13th Nov 2009 17:33
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO
13 November 2009
Laird PLC - RESULTS OF RIGHTS ISSUE
Laird PLC ("Laird") announces that, as at 11 a.m. London time on 13 November 2009, being the latest time and date for receipt of valid acceptances, it had received valid acceptances in respect of 84,158,132 New Ordinary Shares, representing approximately 94.8 per cent. of the total number of New Ordinary Shares pursuant to the fully underwritten 1 for 2 rights issue announced by Laird on 28 October 2009 (the "Rights Issue").
In accordance with the arrangements set out in Part III of the Prospectus, J.P. Morgan Cazenove will be seeking to procure acquirers for the remaining 4,609,270 New Ordinary Shares for which valid acceptances were not received if a premium over the total of the Issue Price and fees and expenses of procuring such acquirers (including any applicable brokerage and commissions and amounts in respect of value added tax) can be obtained, failing which those New Ordinary Shares will be acquired by the Underwriter at the Issue Price pursuant to the terms of the Underwriting Agreement. A further announcement as to the number of New Ordinary Shares for which acquirers have been procured will be made in due course.
It is expected that the New Ordinary Shares in uncertificated form will be credited to CREST accounts on 16 November 2009, and that definitive share certificates in respect of the New Ordinary Shares in certificated form will be despatched to shareholders by no later than 23 November 2009. It is expected that the New Ordinary Shares will commence trading fully paid on the London Stock Exchange's main market for listed securities on 16 November 2009.
Definitions used in the prospectus dated 29 October 2009 shall have the same meaning when used in this announcement, unless the context requires otherwise.
Enquiries:
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Laird PLC |
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Peter Hill, Chief Executive |
020 7468 4040 |
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Jonathan Silver, Finance Director |
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J.P. Morgan Cazenove (Bookrunner, Broker, Joint Sponsor and Joint Financial Advisor) |
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Robert Constant |
020 7588 2828 |
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Shona Graham |
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Rothschild (Joint Sponsor and Joint Financial Advisor) |
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Ravi Gupta |
020 7280 5000 |
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Anselm Frost |
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Maitland |
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Brian Hudspith |
020 7379 5151 |
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Suzanne Bartch |
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IMPORTANT NOTICE
This announcement has been prepared by Laird PLC (the "Company") whose registered office is at 100 Pall Mall, London, SW1Y 5NQ, United Kingdom. The Company is registered in England and Wales with registered no. 55513. Each of J.P. Morgan Securities Ltd. ("J.P. Morgan Securities"), J.P. Morgan Cazenove Limited ("J.P. Morgan Cazenove") and N.M. Rothschild & Sons Limited ("Rothschild") (together, the "Banks"), is authorised and regulated in the United Kingdom by the FSA and is acting exclusively for the Company in connection with the Rights Issue and not for any other person and will not be responsible to any other person for providing the protections afforded to their respective customers, or for providing advice in relation to the Rights Issue, or for the contents of or matters referred to in this announcement. Apart from the responsibilities and liabilities, if any, which may be imposed on any of the Banks by FSMA or the regulatory regime established thereunder, none of the Banks accepts any responsibility whatsoever for the contents of this announcement including its accuracy, completeness or verification or for any other statement in connection with the Company, the Nil Paid Rights, the Fully Paid Rights the Provisional Allotment Letters, the New Ordinary Shares or the Rights Issue, and nothing in this announcement is, or shall be relied upon as, a promise, warranty or representation in any such respect. Accordingly, each of the Banks disclaims, to the fullest extent permissible by law, all and any liability whatsoever, whether arising in tort, contract or otherwise (save as referred to above), which any of the Banks might otherwise have in respect of this announcement.
This announcement is for information purposes only and does not constitute or form part of any offer or invitation to underwrite, purchase, subscribe for or otherwise acquire or dispose of any of the Nil Paid Rights, Fully Paid Rights, the Provisional Allotment Letters or the New Ordinary Shares and shall not form the basis of, or be relied upon in connection with, any contract to purchase or subscribe for any of the Nil Paid Rights, Fully Paid Rights, the Provisional Allotment Letters or the New Ordinary Shares. Past performance is no guide to future performance and any investment decision to take up or buy Nil Paid Rights, Fully Paid Rights, the Provisional Allotment Letters or the New Ordinary Shares must be made solely on the basis of publicly available information. Persons requiring advice should consult an independent financial adviser.
This announcement and the information contained therein is not for publication or distribution, directly or indirectly, in or into the United States of America, Australia, Canada, Japan or South Africa or any jurisdiction in which the same would be unlawful. The New Ordinary Shares, the Provisional Allotment Letters, the Nil Paid Rights and the Fully Paid Rights have not been and will not be registered under the U.S. Securities Act of 1933, as amended, (the "Securities Act") and may not be offered, sold, taken up, exercised, resold, renounced, transferred or delivered, directly or indirectly, in or into the United States of America absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States of America. No money, securities or other consideration from any person inside the United States of America is being solicited and, if sent in response to the information contained in this announcement, will not be accepted. The securities have not been and will not be registered under the applicable securities laws of Japan, South Africa, Australia or Canada and, subject to certain exemptions, may not be offered, sold, taken up, exercised, resold, renounced, transferred or delivered, directly or indirectly in or into or for the account or benefit of any person having a registered address in, or located or resident in, Japan, South Africa, Australia or Canada. There will be no public offer of the securities in Japan, South Africa, Australia or Canada.
The distribution of this announcement and the offering or sale of the Nil Paid Rights, Fully Paid Rights, the Provisional Allotment Letters or the New Ordinary Shares in certain jurisdictions may be restricted by law. No action has been taken by the Company, J.P. Morgan Cazenove, J.P. Morgan Securities and Rothschild that would permit an offering of such Nil Paid Rights, Fully Paid Rights, the Provisional Allotment Letters or the New Ordinary Shares or possession or distribution of this announcement or any other offering or publicity material relating to such Nil Paid Rights, Fully Paid Rights, the Provisional Allotment Letters or the New Ordinary Shares in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required by J.P. Morgan Cazenove, J.P. Morgan Securities and Rothschild to inform themselves about, and to observe, any such restrictions.
Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this announcement.
Related Shares:
Laird