Results of Rights Issue

Paragon Group Of Companies PLC 21 February 2008 The Paragon Group of Companies PLC 21 February 2008 NOT FOR DISTRIBUTION OR TRANSMISSION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA THE PARAGON GROUP OF COMPANIES PLC ('Paragon' or 'the Company') RESULTS OF RIGHTS ISSUE Paragon today announces that it has received valid acceptances in respect of 258,075,437 New Ordinary Shares, representing approximately 90 per cent. of the total number of New Ordinary Shares offered to Shareholders pursuant to the 25 for 1 Rights Issue (taking into account the Share Consolidation) announced on 11 January 2008 which closed at 11.00 a.m. on 20 February 2008. A total of 287,010,280 New Ordinary Shares were offered to Shareholders in the Rights Issue. In accordance with the arrangements set out in Part II of the prospectus dated 11 January 2008, UBS will be seeking to procure subscribers for the remaining 28,934,843 New Ordinary Shares for which valid acceptances were not received. Any premium over the aggregate of the Rights Issue Price of £1.00 per New Ordinary Share and the expenses of procuring subscribers (including any applicable brokerage and commissions and amounts in respect of VAT which is not recoverable) will be paid to Shareholders that have not taken up their entitlements pro rata to their lapsed provisional allotments, provided that individual amounts of less than £5.00 will not be paid to such persons but will be retained for the ultimate benefit of Paragon. Terms used in the prospectus of the Company dated 11 January 2008 shall have the same meaning when used in this announcement, unless the context requires otherwise. For further information, please contact: The Paragon Group of Companies PLC Nigel Terrington, Chief Executive Nick Keen, Finance Director Tel: +44 121 712 2024 UBS Adrian Haxby Christopher Smith Neil Patel Tel: +44 20 7567 8000 Fishburn Hedges Morgan Bone Andy Berry Tel: +44 20 7839 4321 General UBS Investment Bank, which is authorised and regulated in the UK by the FSA, is acting as financial advisor, sponsor, corporate broker and underwriter to the Company and no one else in connection with the Rights Issue and will not be responsible to anyone other than the Company for providing the protections afforded to clients of UBS Investment Bank or for providing advice in relation to the Rights Issue or for any other matters referred to in this announcement. Apart from the responsibilities and liabilities, if any, which may be imposed on UBS Investment Bank by FSMA or the regulatory regime established thereunder, UBS Investment Bank accepts no responsibility whatsoever for the contents of this announcement or for any other statement made or purported to be made by it, or on its behalf, in connection with the Rights Issue. UBS Investment Bank accordingly disclaims all and any liability whether arising in tort, contract or otherwise (save as referred to above) which it might otherwise have in respect of such announcement or any such statement. The distribution of this announcement into a jurisdiction other than the UK may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with any such restrictions may constitute a violation of the securities laws of any such jurisdiction. This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to acquire, New Ordinary Shares, Provisional Allotment Letters, Nil Paid Rights, Fully Paid Rights and/or to take up any entitlements to Nil Paid Rights in any jurisdiction in which such an offer or solicitation is unlawful. The New Ordinary Shares, the Provisional Allotment Letters, the Nil Paid Rights and the Fully Paid Rights have not been and will not be registered under the Securities Act or under any relevant securities laws of any state or other jurisdiction of the US and may not be offered, sold, taken up, exercised, resold, renounced, transferred or delivered, directly or indirectly, within the US absent of registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act and in compliance with state securities laws. The New Ordinary Shares, the Provisional Allotment Letters, the Nil Paid Rights and the Fully Paid Rights have not been approved or disapproved by the SEC, any state securities commission in the US or any US regulatory authority, nor have any of the foregoing authorities passed upon or endorsed the merits of the offering of the New Ordinary Shares, the Provisional Allotment Letters, the Nil Paid Rights, the Fully Paid Rights or the accuracy or adequacy of the Prospectus. Any representation to the contrary is a criminal offence in the US. Offers of the New Ordinary Shares, the Provisional Allotment Letters, the Nil Paid Rights and the Fully Paid Rights are being made outside the US in offshore transactions within the meaning of and in accordance with Regulation S under the Securities Act. In addition, none of the New Ordinary Shares, the Provisional Allotment Letters, the Nil Paid Rights or the Fully Paid Rights will qualify for distribution under any of the relevant securities laws of any of the Excluded Territories. Accordingly, the New Ordinary Shares, the Provisional Allotment Letters, the Nil Paid Rights and the Fully Paid Rights may not be offered, sold, taken up, exercised, resold, renounced, transferred or delivered, directly or indirectly, within any of the Excluded Territories. END. This information is provided by RNS The company news service from the London Stock Exchange
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