26th Oct 2007 07:05
Costain Group PLC26 October 2007 26 October 2007 COSTAIN GROUP PLCRights Issue - 92.5 per cent. acceptances Costain Group PLC today announces that as at 11.00 a.m. on 25 October 2007, thelatest time and date for acceptance and payment in full for the New OrdinaryShares under the terms of the 3 for 4 Rights Issue announced on 14 September2007, valid acceptances had been received in respect of 247,772,622 New OrdinaryShares, representing approximately 92.5 per cent. of the total number of NewOrdinary Shares offered to Shareholders. In accordance with the arrangements set out in Part II of the Prospectus dated14 September 2007 and on the basis of the terms and conditions sent to placees,Dresdner Kleinwort Securities Limited (an affiliate of Dresdner Bank AG, LondonBranch) and Arbuthnot Securities Limited will be seeking acquirers for theremaining 20,150,847 New Ordinary Shares for which valid acceptances were notreceived. The net proceeds from the sale of these shares, after deduction ofthe Rights Issue Price of 24 pence per New Ordinary Share and the expenses ofprocuring acquirers (including any related commissions and amounts in respect ofVAT which are not recoverable), will be paid to Shareholders that have not takenup their entitlements pro rata to their lapsed provisional allotments providedthat individual amounts of less than £5.00 will not be paid to such persons butwill be retained for the ultimate benefit of Costain Group PLC. Definitions used in the Prospectus dated 14 September 2007 shall have the samemeanings when used in this announcement, unless the context requires otherwise.All references to time in this announcement are to the time in London. Contacts: Costain Group PLC Tel: 01628 842 444Andrew Wyllie, Chief ExecutiveTony Bickerstaff, Finance DirectorGraham Read, Public Relations Hawkpoint Partners Limited Tel: 020 7665 4500(Financial Adviser and Sponsor to Costain)Christopher KemballChris Robinson Dresdner Kleinwort Limited Tel: 020 7623 8000(Joint Broker to Costain)Charles BattenMichael Covington Arbuthnot Securities Limited Tel: 020 7012 2000(Joint Broker to Costain)James SteelRichard Dunn College Hill Tel: 020 7457 2020(PR Advisers)Mark GarrawayMatthew Gregorowski This announcement has been issued by and is the sole responsibility of Costain. 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 theprotections afforded to customers of Dresdner Kleinwort Securities Limited, orfor affording advice in relation to the contents of this announcement or anyother matter referred 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