26th Oct 2007 08:27
Costain Group PLC26 October 2007 26 October 2007 COSTAIN GROUP PLC RIGHTS ISSUE - SUCCESSFUL PLACEMENT OF RIGHTS ISSUE RUMP Following the announcement of earlier today regarding valid acceptances underthe Rights Issue, Costain announces that, with the exception of a small numberof New Ordinary Shares retained for market making purposes, Dresdner KleinwortSecurities Limited (an affiliate of Dresdner Bank AG, London Branch), andArbuthnot Securities Limited have procured subscribers for the 20,150,847 NewOrdinary Shares for which valid acceptances had not been received, at a price of30 pence per New Ordinary Share. The net proceeds from the sale of these shares, after deduction of the RightsIssue Price of 24 pence per New Ordinary Share and the expenses of procuringacquirers (including any related commissions and amounts in respect of VAT whichare not recoverable), will be paid to Shareholders that have not taken up theirentitlements pro rata to their lapsed provisional allotments, provided thatindividual amounts of less than £5.00 will not be paid to such persons but willbe retained for the ultimate benefit of Costain Group PLC. Accordingly, sub-underwriters will not be required to subscribe for any NewOrdinary Shares. Definitions used in the Prospectus dated 14 September 2007 shall have the samemeanings when used in this announcement, unless the context requires otherwise. Contacts: Costain Group PLC Tel: 01628 842 444 Andrew Wyllie, Group Chief Executive Tony Bickerstaff, Group Finance Director Hawkpoint Partners Limited (Financial Adviser and Sponsor) Tel: 020 7665 4500 Christopher Kemball Chris Robinson Arbuthnot Securities Limited (Joint Broker to Costain) Tel: 020 7012 2000 James Steel Richard Dunn Dresdner Kleinwort Limited (Joint Broker to Costain) Tel: 020 7623 8000 Charles Batten Michael Covington College Hill (PR advisers) Tel: 020 7457 2020 Mark Garraway Matthew Gregorowski Hawkpoint Partners Limited, which is authorised and regulated in the UnitedKingdom by the Financial Services Authority, is acting as financial adviser andsponsor to Costain and is acting for no one else in connection with the RightsIssue and will not be responsible to anyone other than Costain for providing theprotections afforded to clients of Hawkpoint Partners Limited, nor for providingadvice in connection with the Rights Issue or any other matter referred toherein. Arbuthnot Securities Limited, which is authorised and regulated in the UnitedKingdom by the Financial Services Authority, is acting as Joint UK Broker andJoint Underwriter to Costain and is acting for no one else in connection withmatters described in this announcement and is not advising any other person ortreating any other person as its client in relation to matters described in thisannouncement and will not be responsible to anyone other than Costain forproviding the protections afforded to clients of Arbuthnot Securities Limited,or for giving advice to any other person in relation to the contents of thisannouncement or any other matter referred to in this announcement. Dresdner Kleinwort Securities Limited, which is authorised and regulated by theFinancial Services Authority, is acting as Joint UK Broker for Costain and forno-one else in connection with the matters described in this announcement andwill not be responsible to anyone other than Costain for providing protectionsafforded to customers of Dresdner Kleinwort Securities Limited, or for affordingadvice in relation to the contents of this announcement or any other matterreferred to herein. Dresdner Bank AG, London Branch which is authorised by BAFin and by theFinancial Services Authority and which is regulated by the Financial ServicesAuthority for the conduct of designated investment business in the UnitedKingdom, is acting as Joint Underwriter for Costain and for no-one else inconnection with the matters described in this announcement and will not beresponsible to anyone other than Costain for providing the protections affordedto customers of Dresdner Bank AG, London Branch, or for affording advice inrelation to the contents of this announcement or any other matter referred toherein. This announcement shall not constitute or form part of any offer or invitationto sell or issue, or any solicitation of any offer to acquire, any New OrdinaryShares to any person in any jurisdiction to whom or in which such offer orsolicitation is unlawful. The distribution of this announcement in certainjurisdictions may be restricted by law and therefore persons into whosepossession this announcement comes should inform themselves about and observeany such restrictions. Any failure to comply with these restrictions mayconstitute a violation of the securities laws of any such jurisdiction. This announcement is not an offer of securities for sale in, into or from theUnited States, Canada, France, Japan, Malaysia, New Zealand, South Africa orSwitzerland. The New Ordinary Shares have not been and will not be registeredunder the US Securities Act of 1933 (as amended) or under any relevantsecurities laws of any state or other jurisdiction of the United States, andwill not qualify for distribution under any of the relevant securities laws ofCanada, France, Japan, Malaysia, New Zealand, South Africa or Switzerland.Accordingly, the New Ordinary Shares may not be offered, sold, taken up,exercised, resold, renounced, transferred or delivered, directly or indirectly,within the United States (absent registration or an applicable exemption fromregistration) or within Canada, France, Japan, Malaysia, New Zealand, SouthAfrica or Switzerland. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Costain