23rd Feb 2006 13:58
HSBC Bank plc23 February 2006 February 23, 2006 Not for distribution, directly or indirectly, in or into the United States orany jurisdiction in which such distribution would be unlawful. Rexam PLC Stabilisation Notice HSBC Bank plc, Co-ordinating Stabilisation Manager (contact: Stephanie Rawles;telephone: +44 207 991 5856) hereby gives notice that the Stabilising Managersnamed below may stabilise the offer of the following securities in accordancewith Commission Regulation (EC) No. 2273/2003 implementing the Market AbuseDirective (2003/6/EC). The securities: Issuer: Rexam PLC Guarantor (if any): Not applicableDescription: - REXAM PLC today launched a Par for Par Exchange Offer for any or all of its E550m 6.625% Notes due 2007 (the Existing Notes) for new EUR Fixed Rate Notes due 2012/2013 (the New Notes) and a cash consideration payment and accrued interest. The Exchange Spread on the Existing Notes has been fixed at MS flat and the New Issue Spread and Maturity will be announced at or around 11am on 06/03/2006 following a European roadshow. Investors whose offers to exchange Existing Notes are accepted will receive an equal aggregate principal amount of New Notes, a cash consideration payment (determined by the difference between the Exchange Price and New Issue Price) and accrued interest. Rexam PLC may issue Additional Notes which shall be fungible with the New Notes. The Exchange Offer is conditional upon (i) a minimum of E200m aggregate principal amount of Existing Notes being validly offered for exchange and (ii) a minimum of E350m aggregate principal amount of New Notes and Additional Notes(if any) being issued. The Exchange Offer expires at 3pm BST on 9/03/06 and pricing will be fixed at or around 11am BST on 10/03/06. Settlement is expected on 15/03/06. The Exchange Offer is not being made directly or indirectly in US and Italy. Other restrictions also apply. Dealer Managers: ABN AMRO: +44 207678 3644: BNP Paribas: +44 207 595 8668: HSBC: +44 207 991 5893 Offer price: To be determinedStabilisation:Co-ordinating Stabilising Manager: HSBC Bank plc Stabilising Managers: BNP Paribas ABN Amro N.V. Stabilisation period expected February 23, 2006to start on: Stabilisation period expected March 23, 2006to end no later than: Maximum size of over-allotment 5% of the aggregate nominal amountfacility: In connection with the offer of the above securities, the Stabilising Managersmay over-allot the securities or effect transactions with a view to supportingthe market price of the securities at a level higher than that which mightotherwise prevail. However, there is no assurance that the Stabilising Managerswill take any stabilisation action and any stabilisation action, if begun, maybe ended at any time. This announcement is for information purposes only and does not constitute aninvitation or offer to underwrite, subscribe for or otherwise acquire or disposeof any securities of the Issuer in any jurisdiction. This announcement and the offer of the securities to which it relates are onlyaddressed to and directed at persons outside the United Kingdom and persons inthe United Kingdom who have professional experience in matters related toinvestments or who are high net worth persons within article 12(5) of theFinancial Services and Markets Act 2000 (Financial Promotion) Order 2005 andmust not be acted on or relied on by other persons in the United Kingdom. In addition, if and to the extent that this announcement is communicated in, orthe offer of the securities to which it relates is made in, any EEA Member Statethat has implemented Directive 2003/71/EC (together with any applicableimplementing measures in any Member State, the "Prospectus Directive") beforethe publication of a prospectus in relation to the securities which has beenapproved by the competent authority in that Member State in accordance with theProspectus Directive (or which has been approved by a competent authority inanother Member State and notified to the competent authority in that MemberState in accordance with the Prospectus Directive), this announcement and theoffer are only addressed to and directed at persons in that Member State who arequalified investors within the meaning of the Prospectus Directive (or who areother persons to whom the offer may lawfully be addressed) and must not be actedon or relied on by other persons in that Member State. This announcement is not an offer of securities for sale into the United States.The securities have not been, and will not be, registered under the UnitedStates Securities Act of 1933 and may not be offered or sold in the UnitedStates absent registration or an exemption from registration. There will be nopublic offer of securities in the United States. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
REX.L