29th Aug 2006 16:27
Ashtead Group plc29 August 2006NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY ORINDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, FRANCE, JAPAN ORNEW ZEALAND Ashtead Group plc SUCCESSFUL PLACEMENT OF RIGHTS ISSUE RUMP Following the announcement by Ashtead earlier today regarding valid acceptancesin respect of 146,472,043 New Ordinary Shares, representing approximately 96.2per cent. of the total number of New Ordinary Shares offered to Shareholdersunder the 3 for 8 Rights Issue announced by Ashtead on 19 July 2006, the Boardof Ashtead now announces that JPMorgan Cazenove, UBS and Evolution haveprocured acquirers in respect of 5,767,972 remaining New Ordinary Shares, netof fractional entitlements, for which valid acceptances were not received, at aprice of 131.25 pence per New Ordinary Share.The net proceeds from the sale of these shares, after the deduction of theRights Issue Price of 100 pence per New Ordinary Share and the expenses ofprocuring acquirers (including any related commissions and amounts in respectof irrecoverable VAT), will be paid to Shareholders that have not taken uptheir 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 benefit of Ashtead.Accordingly, sub-underwriters will not be required to acquire any New OrdinaryShares.Terms used in this Announcement shall have the same meanings as set out in theProspectus dated 19 July 2006ENQUIRIES:Ashtead Cob Stenham, Non-executive Chairman +44 (0)20 7299 5562 George Burnett, Chief Executive +44 (0)1372 362 300 Ian Robson, Finance Director +44 (0)1372 362 300 Maitland Brian Hudspith +44 (0)20 7379 5151 UBS Limited is acting exclusively as financial adviser to Ashtead and no oneelse in connection with the Acquisition and the Rights Issue and will not beresponsible to anyone other than Ashtead for providing the protections affordedto its clients or for providing advice in relation to the Acquisition, theRights Issue, or in relation to the contents of this announcement, or for anyother transaction, arrangement or matter referred to in this announcement.JPMorgan Cazenove Limited, which is authorised and regulated in the UnitedKingdom by the Financial Services Authority, is acting exclusively as financialadviser to and corporate broker for Ashtead and no one else in connection withthe Acquisition and the Rights Issue and will not be responsible to anyoneother than Ashtead for providing the protections afforded to its clients or forproviding advice in relation to the Acquisition, the Rights Issue, or inrelation to the contents of this announcement, or for any other transaction,arrangement or matter referred to in this announcement.Evolution Securities Limited, which is authorised and regulated in the UnitedKingdom by the Financial Services Authority, is acting exclusively as corporatebroker for Ashtead and no one else in connection with the Rights Issue and willnot be responsible to anyone other than Ashtead for providing the protectionsafforded to its clients or for providing advice in relation to the RightsIssue, or in relation to the contents of this announcement, or for any othertransaction, arrangement or matter referred to in this announcement.This announcement does not constitute, or form part of, an offer to sell or thesolicitation of an offer to acquire or subscribe for New Ordinary Shares,Provisional Allotment Letters, Nil Paid Rights and/or Fully Paid Rights and/orto take up any entitlements.The information contained in this announcement is not for release, publicationor distribution to persons in the United States, Australia, Canada, France,Japan or New Zealand.This announcement is not an offer of securities for sale in, into or from theUnited States, Australia, Canada, France, Japan or New Zealand. The NewOrdinary Shares, Provisional Allotment Letters, Nil Paid Rights and Fully PaidRights have not been and will not be registered under the US Securities Act of1933 (as amended) or under any relevant securities laws of any state or otherjurisdiction of the United States, and will not qualify for distribution underany of the relevant securities laws of Australia, Canada, France, Japan or NewZealand. Accordingly, the New Ordinary Shares, Provisional Allotment Letters,Nil Paid Rights and/or Fully Paid Rights 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 Australia, Canada, France, Japan or New Zealand.The availability of the Rights Issue to persons who are not resident in theUnited Kingdom may be affected by the laws of the relevant jurisdictions inwhich they are located. Persons who are not resident in the United Kingdomshould inform themselves of, and observe, any applicable requirements. Successful Placing of Rights Issue 290806 ENDASHTEAD GROUP PLCRelated Shares:
Ashtead Group