Nil Paid Rights

RNS Number : 5134P

Catlin Group Limited

26 March 2009

 



This announcement is not for publication or distribution, directly or indirectly, in or into the United States, Canada, Australia, New Zealand, Japan, South Africa or any other jurisdiction in which the same would be unlawful

Catlin Group Limited
Results of Rights Issue

Catlin Group Limited ('Catlin') today announces that under the terms of a 2 for 5 Rights Issue announced on 12 February 2009, valid acceptances have been received in respect of 98.68 per cent. of the total number of New Common Shares offered to Shareholders.

The Rights Issue was fully underwritten by J.P. Morgan Securities Ltd. on behalf of J.P. Morgan Cazenove and UBS Limited.

As disclosed on page 48 of the prospectus relating to the Rights Issue, J.P. Morgan Cazenove and UBS Limited, acting as Joint Bookrunners, will use reasonable endeavours to procure acquirers for the balance of New Common Shares not validly taken up in the Rights Issue. A further announcement as to the number of New Common Shares for which acquirers have been procured will be made in due course.

For more information contact:

Catlin Group Limited

Media Relations:

James Burcke, Head of Communications

Tel: [phone]

Mobile: [phone]

Investor Relations:

William Spurgin, Head of Investor Relations

Tel: [phone]

Mobile: [phone]

Maitland
PR Adviser

Liz Morley

Tel: [phone]

J.P. Morgan Cazenove

Sponsor, Joint Broker and Joint Bookrunner

Conor Hillery

Laurence Hollingworth

Mike Collar

Tel: [phone]

UBS Limited

Joint Broker and Joint Bookrunner

Phillip Shelley

Anna Swire

Tel: [phone]

  Definitions used in the prospectus relating to the Rights Issue dated 12 February 2009 shall have the same meaning when used in this announcement, unless the context requires otherwise.

This announcement does not constitute an invitation to underwrite, subscribe for or otherwise acquire or dispose of any Nil Paid Rights, New Common Shares or New Depositary Interests and shall not form the basis of, or be relied upon in connection with, any contract to purchase or subscribe for any Nil Paid Rights, New Common Shares or New Depository Interests. Past performance is no guide to future performance and any investment decision to take up or buy Nil Paid Rights, New Common Shares or (in the case of Depositary Interest Holders only) New Depositary Interests must be made solely on the basis of publicly available information. Persons needing advice should consult an independent financial adviser.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States, Canada, Australia, New Zealand, Japan, South Africa or any jurisdiction in which the same would be unlawful. This announcement is for information only and does not constitute an offer or invitation to take up, acquire or dispose of Nil Paid Rights, New Common Shares or New Depositary Interests in the United States or any jurisdiction in which the same would be unlawful. The New Common Shares, the Nil Paid Rights and the New Depositary Interests have not been and will not be registered under the U.S. Securities Act of 1933, as amended, (the 'Securities Act') and may not be offered, sold, taken up, exercised, resold, renounced, transferred or delivered, directly or indirectly, within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no public offer of Nil Paid Rights, New Common Shares or New Depositary Interests in the United States, the United Kingdom or elsewhere. The distribution of this announcement and the offering or sale of the Nil Paid Rights, New Common Shares or New Depositary Interests in certain jurisdictions may be restricted by law. No action has been taken by the Company, J.P. Morgan Cazenove, J.P. Morgan Securities Ltd. ('JPMSL') or UBS Limited ('UBS') that would permit an offering of such Nil Paid Rights, New Common Shares or New Depositary Interests or possession or distribution of this announcement or any other offering or publicity material relating to such Nil Paid Rights, New Common Shares or New Depositary Interests in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required by the Company, J.P. Morgan Cazenove, JPMSL and UBS to inform themselves about, and to observe, any such restrictions.

This announcement is the sole responsibility of the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by J.P. Morgan Cazenove, JPMSL or UBS or by any of their respective affiliates or agents as to or in relation to, the accuracy or completeness of this announcement, or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefor is hereby expressly disclaimed.

J.P. Morgan Cazenove, which is authorised and regulated by the FSA, is acting for the Company in connection with the Rights Issue and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to clients of J.P. Morgan Cazenove nor for providing advice in relation to the Rights Issue.

JPMSL, which is authorised and regulated by the FSA, is acting for the Company in connection with the Rights Issue and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to clients of JPMSL nor for providing advice in relation to the Rights Issue.

UBS is acting for the Company in connection with the Rights Issue and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to clients of UBS nor for providing advice in relation to the Rights Issue. 

 

END

 

 

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