Completion of Rights Issue

RNS Number : 9612T

Marshalls PLC

16 June 2009

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA, MALTA, NEW ZEALAND OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

Marshalls plc

16 June 2009

Successful completion of Rights Issue and placing of rump

Marshalls plc ('Marshalls' or 'the Company') announced previously that it had received valid acceptances in respect of 50,885,764 New Ordinary Shares, representing approximately 90.4 per cent of the total number of New Ordinary Shares offered to Qualifying Shareholders, pursuant to the Rights Issue announced by the Company on 13 May 2009.  

Marshalls confirms that, in accordance with the arrangements set out in Part III of the prospectus sent to shareholders dated 13 May 2009 ('Prospectus'), Citi and Numis have procured subscribers for the 5,386,737 remaining New Ordinary Shares, for which valid acceptances were not received, at a price of 83.0 pence per share.  

The net proceeds from the sale of such New Ordinary Shares, after deduction of the Rights Issue Price and relevant costs (including any applicable brokerage and commissions and amounts in respect of VAT which are not recoverable), will be paid to those Qualifying Shareholders whose rights have lapsed in accordance with the terms of the Rights Issue, pro rata to their lapsed provisional allotments, save that individual amounts of less than £5.00 and fractions of a pence will not be so paid but will be retained for the Company's own benefit.  

Unless otherwise defined in this announcement, capitalised terms shall have the meaning given to them in the Prospectus.

Contacts

For further information please contact:

Marshalls plc    Tel: [phone]

Graham Holden, Chief Executive

Ian Burrell, Finance Director

Brunswick Group LLP     Tel: [phone]

Jon Coles

Kate Miller

This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in Australia, Canada, Japan, South Africa, Malta, New Zealand or the United States or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The securities referred to herein may not be offered or sold in the United States absent registration under the United States Securities Act of 1933, as amended ('Securities Act') or another exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada, Japan, South Africa, Malta or New Zealand or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada, Japan, South Africa, Malta or New Zealand. The offer and sale of the securities referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada, Japan, South Africa, Malta or New Zealand. There will be no public offer of the securities in the United States. 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 application requirements.

Citigroup Global Markets Limited and Citigroup Global Markets U.K. Equity Limited (each and together, 'Citi') and Numis Securities Limited ('Numis') are each regulated and authorised by the Financial Services Authority in the United Kingdom. Citi and Numis are each acting exclusively for the Company and no one else as Joint Bookrunner in connection with the Rights Issue and the Admission of the New Ordinary Shares and will not regard any other person (whether or not a recipient of this announcement) as a client in relation to the Rights Issue and the Admission of the New Ordinary Shares and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Citi or Numis or for providing advice in relation to the Rights Issue, the Admission of the New Ordinary Shares, the contents of this announcement or any matters or arrangements referred to herein or therein.

This announcement is not a prospectus and is for information only and does not constitute or form part of any offer or invitation to issue, acquire or dispose of any securities or investment advice in any jurisdiction.

 

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