13th Jun 2006 17:31
Novae Group PLC13 June 2006 For immediate release 13 June 2006 Novae Group plc Rights Issue update Further to Novae's announcement earlier today regarding the receipt of valid acceptances in respect of 54,402,121 New Novae Shares, representing approximately 14.9 per cent. of the 366,106,728 New Novae Shares offered to Qualifying Shareholders pursuant to the Rights Issue, Novae announces that Hoare Govett and its sub-underwriters will subscribe, at the Issue Price of 30 pence per New Novae Share, for the New Novae Shares for which valid acceptances were not received. There are therefore no net proceeds which fall to be distributed to Qualifying Shareholders who did not take up their entitlements in accordance with the terms of the Rights Issue. Definitions used in the Prospectus dated 28 March 2006 shall have the same meanings when used in this announcement, unless the context requires otherwise. Enquiries: Novae Group plc 020 7903 7300Matthew FoshOliver Corbett Hoare Govett Limited 020 7678 8000Bob CowdellJohn MacGowanStephen Bowler M: Communications 020 7153 1521Nick MilesCaroline Villiers Other information The directors of Novae accept responsibility for the information contained in this announcement and, to the best of their knowledge and belief (having taken reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information. Hoare Govett Limited, which is authorised and regulated in the UK by the Financial Services Authority, is acting exclusively for Novae in connection with the Rights Issue and for no-one else and will not be responsible to anyone other than Novae for providing the protections afforded to their respective clients, for the contents of this announcement. Securities may not be offered or sold in the United States unless they are registered under the US Securities Act of 1933, as amended, or exempt from such registration. The Novae Shares have not been, nor will be, and are not required to be, registered with the US Securities and Exchange Commission under that Act, in reliance on the exemption provided by section 3(a)(10) thereof. US shareholders who are affiliates (within the meaning of the US Securities Act of 1933) of Novae will be subject to timing, manner of sale and volume restrictions on the sale of Novae Shares received in connection with the Scheme under rule 145(d) of that Act. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Novae Group