Proposed share sale

RNS Number : 7573Q

Hargreaves Lansdown PLC

17 April 2009

 



Hargreaves Lansdown Plc

('Hargreaves Lansdown' or the 'Company')

Sale of shares by Stephen Lansdown 

Stephen Lansdown (the 'Selling Shareholder') announces that he intends to sell at least  15 million ordinary shares in Hargreaves Lansdown plc (the 'Shares') out of his current shareholding of 132 million shares.  Following the sale Stephen has no current intention to sell further shares prior to the announcement of Hargreaves Lansdown Plc's preliminary results for the year ending 30 June 2009.

Monies raised from the sale will be used to help fund private projects including the proposed new stadium for Bristol City Football Club of which Stephen Lansdown is Chairman. 

The share sale will be completed by way an accelerated bookbuilt secondary placing (the 'Placing'). Citigroup Global Markets U.K. Equity Limited ('Citi') and Numis Securities Limited ('Numis') are acting as joint global co-ordinators and bookrunners.

The sale price will be determined and announced after closing of the accelerated bookbuilding process. The timing of closing of the bookbuilding process will be determined in due course by Citi and Numis.

Enquiries:

Hargreaves Lansdown

Stephen Lansdown                  Tel: [phone]

Citi

Andrew Thompson

Robert Redshaw                      Tel: [phone]

Numis

Rupert Krefting

James Serjeant                        Tel: [phone]

MEMBERS OF THE GENERAL PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE PLACING. THIS ANNOUNCEMENT AND ANY OFFER OF SECURITIES TO WHICH IT RELATES ARE ONLY ADDRESSED TO AND DIRECTED AT PERSONS WHO ARE (1) QUALIFIED INVESTORS WITHIN THE MEANING OF DIRECTIVE 2003/71/EC AND ANY RELEVANT IMPLEMENTING MEASURES (THE ' PROSPECTUS DIRECTIVE') AND (2) WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS WHO FALL WITHIN ARTICLE 19(1) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE 'ORDER') OR ARE PERSONS FALLING WITHIN ARTICLE 49(2)(A) TO (D) ('HIGH NET WORTH COMPANIES, UNINCORPORATED ASSOCIATIONS, ETC') OF THE ORDER (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS 'RELEVANT PERSONS'). THE INFORMATION REGARDING THE PLACING SET OUT IN THIS ANNOUNCEMENT MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS.

This announcement does not constitute or form part of any offer of securities, or constitute a solicitation of any offer to purchase or subscribe for securities. Neither this announcement nor any copy of it may be taken, released, published, transmitted or distributed, directly or indirectly in or into the United States, Canada, Australia or Japan, or any jurisdiction where such announcement would be unlawful. Any failure to comply with this restriction may constitute a violation of United States, Canadian, Australian or Japanese securities laws, or any jurisdiction where such announcement would be unlawful. No action has been taken by the Selling Shareholder, or any of their respective affiliates, or any other person that would permit an offer of the Placing Shares or possession or distribution of this announcement or any other offering or publicity material relating to the Placing Shares in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes into should inform themselves about and observe any such restrictions.

This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States. The securities referred to herein have not been and will not be registered under the US Securities Act of 1933 (the 'Securities Act'), and may not be offered or sold in the United States unless they are registered under the Securities Act or pursuant to an available exemption therefrom. No public offering of securities of Hargreaves Lansdown plc is being made in the United States.

Any investment decision to buy securities in the Placing must be made solely on the basis of publicly available information which has not been independently verified by any of Citi, Numis or the Selling Shareholder.

Citi and Numis are acting for the Selling Shareholder only in connection with the Placing, and no one else, and will not be responsible to anyone other than the Selling Shareholder for providing the protections offered to clients of Citi and Numis nor for providing advice in relation to the Placing.

This does not constitute a recommendation concerning the Placing. The value of shares can go down as well as up. Past performance is not a guide to future performance. Potential investors should consult a professional adviser as to the suitability of any offering for the individual concerned.

 

END

 

 

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