21st Feb 2008 08:31
Paragon Group Of Companies PLC21 February 2008 The Paragon Group of Companies PLC21 February 2008 NOT FOR DISTRIBUTION OR TRANSMISSION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA THE PARAGON GROUP OF COMPANIES PLC ("Paragon" or "the Company") SUCCESSFUL PLACING OF RIGHTS ISSUE RUMP Following the announcement earlier today regarding valid acceptances under theRights Issue, Paragon now announces that UBS has procured subscribers for theremaining 28,934,843 New Ordinary Shares for which valid acceptances were notreceived, at a price of 102 pence per New Ordinary Share. Any premium over the aggregate of the Rights Issue Price of £1.00 per NewOrdinary Share and the expenses of procuring subscribers (including anyapplicable brokerage and commissions and amounts in respect of VAT which is notrecoverable) will be paid to Shareholders that have not taken up theirentitlements pro rata to their lapsed provisional allotments, provided thatindividual amounts of less than £5.00 will not be paid to such persons but willbe retained for the ultimate benefit of Paragon. Accordingly, neither the underwriter nor the sub-underwriters will be requiredto subscribe for any New Ordinary Shares under the terms of the underwriting andsub-underwriting arrangements. Terms used in the prospectus of the Company dated 11 January 2008 shall have thesame meaning when used in this announcement, unless the context requiresotherwise. For further information, please contact: The Paragon Group of Companies PLCNigel Terrington, Chief ExecutiveNick Keen, Finance DirectorTel: +44 121 712 2024 UBSAdrian HaxbyChristopher SmithNeil PatelTel: +44 20 7567 8000 Fishburn HedgesMorgan BoneAndy BerryTel: +44 20 7839 4321 General UBS Investment Bank, which is authorised and regulated in the UK by the FSA, isacting as financial advisor, sponsor, corporate broker and underwriter to theCompany and no one else in connection with the Rights Issue and will not beresponsible to anyone other than the Company for providing the protectionsafforded to clients of UBS Investment Bank or for providing advice in relationto the Rights Issue or for any other matters referred to in this announcement. Apart from the responsibilities and liabilities, if any, which may be imposed onUBS Investment Bank by FSMA or the regulatory regime established thereunder, UBSInvestment Bank accepts no responsibility whatsoever for the contents of thisannouncement or for any other statement made or purported to be made by it, oron its behalf, in connection with the Rights Issue. UBS Investment Bankaccordingly disclaims all and any liability whether arising in tort, contract orotherwise (save as referred to above) which it might otherwise have in respectof such announcement or any such statement. The distribution of this announcement into a jurisdiction other than the UK maybe restricted by law and therefore persons into whose possession thisannouncement comes should inform themselves about and observe any suchrestrictions. Any failure to comply with any such restrictions may constitute aviolation of the securities laws of any such jurisdiction. This announcement does not constitute or form part of any offer or invitation tosell or issue, or any solicitation of any offer to acquire, New Ordinary Shares,Provisional Allotment Letters, Nil Paid Rights, Fully Paid Rights and/or to takeup any entitlements to Nil Paid Rights in any jurisdiction in which such anoffer or solicitation is unlawful. The New Ordinary Shares, the Provisional Allotment Letters, the Nil Paid Rightsand the Fully Paid Rights have not been and will not be registered under theSecurities Act or under any relevant securities laws of any state or otherjurisdiction of the US and may not be offered, sold, taken up, exercised,resold, renounced, transferred or delivered, directly or indirectly, within theUS absent of registration under the Securities Act or an applicable exemptionfrom the registration requirements of the Securities Act and in compliance withstate securities laws. The New Ordinary Shares, the Provisional AllotmentLetters, the Nil Paid Rights and the Fully Paid Rights have not been approved ordisapproved by the SEC, any state securities commission in the US or any USregulatory authority, nor have any of the foregoing authorities passed upon orendorsed the merits of the offering of the New Ordinary Shares, the ProvisionalAllotment Letters, the Nil Paid Rights, the Fully Paid Rights or the accuracy oradequacy of the Prospectus. Any representation to the contrary is a criminaloffence in the US. Offers of the New Ordinary Shares, the Provisional AllotmentLetters, the Nil Paid Rights and the Fully Paid Rights are being made outsidethe US in offshore transactions within the meaning of and in accordance withRegulation S under the Securities Act. In addition, none of the New Ordinary Shares, the Provisional Allotment Letters,the Nil Paid Rights or the Fully Paid Rights will qualify for distribution underany of the relevant securities laws of any of the Excluded Territories.Accordingly, the New Ordinary Shares, the Provisional Allotment Letters, the NilPaid Rights and the Fully Paid Rights may not be offered, sold, taken up,exercised, resold, renounced, transferred or delivered, directly or indirectly,within any of the Excluded Territories. END. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Paragon Group