21st Jul 2005 17:44
Caldwell Investments PLC21 July 2005 COMPANY NUMBER 269566 21 July 2005 CALDWELL RIGHTS ISSUE RESULT Caldwell Investments P.L.C. ("Caldwell") announces that it has received validacceptances in respect of 1,894,526 new Ordinary Shares, representing 75.3 percent of the total number of new Ordinary Shares offered to shareholders pursuantto the 1 for 7 Rights Issue announced by Caldwell on 29 June 2005 (the "RightsIssue") and which closed at 11.00 am today. Subscribers have been procured for 405,861 of the remaining 621,545 new OrdinaryShares for which valid acceptances were not received, at a price of 25.25p pershare. The net proceeds from the sale of these shares, after the deduction ofthe Rights Issue price of 25p per new Ordinary Share and relevant costs, will bepaid to shareholders who have not taken up their entitlements, pro rata to theirlapsed provisional allotments, save that amounts of less than £3 will beretained for the benefit of Caldwell. The Rights Issue was not underwrittenand, accordingly, the balance of 215,684 new Ordinary Shares will not be issued. The 2,300,387 new Ordinary Shares issued pursuant to the Rights Issue will begintrading at 8.00 am on Friday 22 July 2005. Stanley Wootliff, Chairman and Managing Director, commented: "We are pleased with the support we have received from investors. The proceedsof approximately £575,000 before expenses will be used to fund the plannedhardwood outdoor furniture marketing activities, and to provide additionalgeneral working capital for the Group." - ENDS - This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Riverfort