Results of Placing Announcement

RNS Number : 1687L

Lancashire Holdings Limited

07 August 2013

 



THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.

7 August 2013

RESULTS OF PLACING

Lancashire Holdings Limited (the "Company" or "Lancashire") is pleased to announce the successful completion of the placing of common shares announced earlier today (the "Placing").

A total of 16,843,382 new common shares in Lancashire (the "Placing Shares") have been placed by J.P. Morgan Securities plc ("J.P. Morgan Cazenove") and Numis Securities Limited ("Numis" and, together with J.P. Morgan Cazenove, the "Bookrunners") at a price of 780 pence per Placing Share, raising total gross proceeds of approximately £131 million for the Company. The Placing Shares being issued represent approximately 9.99 per cent of the issued common share capital of Lancashire prior to the Placing.

The Placing Shares will, when issued, be issued credited as fully paid and will rank pari passu in all respects with the existing common shares of U.S.$0.50 in the capital of Lancashire, including the right to receive all dividends and other distributions declared after the date of the issue.

Applications have been made for the Placing Shares to be admitted to the premium listing segment of the Official List of the Financial Conduct Authority and to be admitted to trading by the London Stock Exchange ("LSE") on its main market for listed securities (together, the "Admission"). It is expected that Admission will take place at 8.00 a.m. on 12 August 2013 (at which time the Placing will become unconditional) and that dealings in the Placing Shares on the LSE's main market for listed securities will commence at the same time.

For further information, please contact:

Lancashire Holdings Limited

Jonny Creagh-Coen                                                   [phone]

Christopher Head                                                      [phone]

Haggie Partners

David Haggie                                                            [phone]

Rebecca Young

J.P. Morgan Cazenove

Conor Hillery                                                            [phone]

Mike Collar

Barry Meyers

Numis

Charlie Farquhar                                                       [phone]

Robert Bruce

Ben Stoop

IMPORTANT NOTICE

Disclaimer

This Announcement is for information only and does not constitute an offer or invitation to underwrite, subscribe for or otherwise acquire or dispose of any securities or investment advice in any jurisdiction. Persons needing advice should consult an independent financial adviser.

This Announcement has been issued by and 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 the Bookrunners 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 expressly disclaimed.

Each Bookrunner is acting for the Company in connection with the Placing and no-one else and will not be responsible to anyone other than the Company for providing the protections afforded to its clients nor for providing advice in relation to the Placing.

The distribution of this Announcement and the placing of the Placing Shares as set out in this Announcement in certain jurisdictions may be restricted by law. No action has been taken by the Company or the Bookrunners that would permit an offering of such shares or possession or distribution of this Announcement or any other offering or publicity material relating to such shares in any jurisdiction where action for that purpose is required. Persons into whose possession this Announcement comes are required by the Company and the Bookrunners to inform themselves about, and to observe, such restrictions.

The Placing Shares referred to in this Announcement have not been and will not be registered under the US Securities Act of 1933 (the "Securities Act") or under any securities laws of any state or other jurisdiction of the United States and may not be offered, sold or transferred, directly or indirectly, in or into the United States absent registration or pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with the securities laws of any state or other jurisdiction of the United States. There has been, and will be, no public offering of the Placing Shares in the United States, the United Kingdom or any other jurisdiction.

 

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