Issue of Equity

RNS Number : 1872Q

Beazley Group PLC

06 April 2009

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN 

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale or purchase of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The availability of the Rights Issue to persons not resident in the United Kingdom may be affected by the laws of the relevant jurisdictions. Such persons should inform themselves about and observe any applicable requirements. 

6 April 2009

For Immediate Release

Beazley Group plc ('Beazley' or the 'Company')

Rights Issue - Successful Placement of Rump 

Beazley today announces that Numis Securities Limited, acting as Underwriter, has procured acquirers for the 21,200,606 New Shares (excluding the Renounced Shares) for which valid acceptances were not received, at an average price of 90 pence per New Share. 

The net proceeds from the sale of such shares after deduction of the Issue Price of 86 pence per New Share and the expenses of procuring acquirers will be paid to those persons whose rights have lapsed in accordance with the terms of the Rights Issue, pro rata, to their lapsed provisional allotments, except that individual amounts of less than GBP5.00 will not be paid to such persons but will be aggregated and retained for the benefit of the Company. 

Definitions used in the prospectus relating to the Rights Issue dated 13 February 2009 shall have the same meaning when used in this announcement, unless the context requires otherwise. 

- ENDS - 

For more information contact:  

Enquiries:
Beazley Group PLC	[phone]
Andrew Horton, Chief Executive Officer
Arthur Manners, Company Secretary
Numis Securities Limited	[phone]
Oliver Hemsley
Tom Booth
Lexicon Partners Limited	[phone]
Angus Winther
Nick Chapman
Finsbury	[phone]
Vanessa Neill

Numis Securities Limited and Lexicon Partners Limited are both authorised and regulated in the United Kingdom by the FSA, are acting for Beazley and no-one else in connection with the Rights Issue, and will not regard any other person as a client in relation to the Rights Issue, and will not be responsible to anyone other than Beazley for providing the protections afforded to their respective clients or for providing advice in relation to the Rights Issue or any matters referred to in this announcement.

This announcement does not constitute or form part of any offer or invitation to purchase, otherwise acquire, subscribe for, sell, otherwise dispose of or issue, or any solicitation of any offer to sell, otherwise dispose of, issue, purchase, otherwise acquire or subscribe for, any security. 

This announcement is an advertisement and does not constitute a prospectus. Nothing in this announcement should be interpreted as a term or condition of the Rights Issue. Any decision to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any Provisional Allotment Letter, Nil Paid Rights, Fully Paid Rights and New Shares must be made only on the basis of the information contained in and incorporated by reference into the Prospectus. 

 

END

 

 

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