Prodesse Investment Limited
27 March 2007
Not for release, publication or distribution in, or into, the United States,
Australia, Canada or Japan
27 March 2007
Prodesse Investment Limited
RESULT OF PLACING OF NEW ORDINARY SHARES
PLACING PRICE SET AT 440 PENCE PER NEW ORDINARY SHARE
Prodesse Investment Limited (the 'Company') announces that, further to the
announcement on 27 March 2007 (the 'Announcement'), a total of 2.54 million new
ordinary shares of U.S.$0.01 each in the Company (the 'Placing Shares') have
been placed by Merrill Lynch International ('Merrill Lynch') at a price of 440
pence per Placing Share, raising gross proceeds of approximately £11.18 million
(the 'Placing').
Application will be made for, and the Placing is conditional upon, inter alia,
admission of the Placing Shares to listing on the Official List maintained by
the UK Listing Authority and upon admission to trading by London Stock Exchange
plc on its main market for listed securities (together, 'Admission'). It is
expected that Admission will become effective and that dealings will commence in
the Placing Shares at 8:00am on 30 March 2007. Application will also be made
for the Placing Shares to be admitted to trading on the Channel Islands Stock
Exchange, LBG. Subject to the conditions being satisfied, the Placing Shares
will be issued credited as fully paid and will rank pari passu in all respects
with the existing issued ordinary shares of U.S.$0.01 per share in the capital
of the Company.
Enquiries:
Prodesse Investment Limited:
John Hallam Chairman +44 (0)1481 250879
Fixed Income Discount Advisory Company
Ronald Kazel Director +1 212 696 0100
Merrill Lynch International
Rupert Hume Kendall +44 (0)20 7996 1000
Andrew Tusa +44 (0)20 7996 1000
Mark Gwynne +44 (0)20 7995 3700
Defined terms used in this announcement have, unless the context otherwise
requires, the same meaning given to them in the Announcement.
This announcement has been issued by and is the sole responsibility of Prodesse.
Merrill Lynch is acting for the Company and no-one else in relation to the
Placing and will not be responsible to any person other than the Company for
providing the protections afforded to clients of Merrill Lynch or for providing
advice in relation to the Placing or in relation to the contents of this
announcement or any other transaction, arrangement or matter referred to herein.
This announcement is for information purposes only and does not constitute an
offer to issue or sell, or the solicitation of an offer to acquire or buy, any
securities to any person in any jurisdiction. In particular, this announcement
does not constitute an offer to issue or sell, or the solicitation of an offer
to acquire, buy or subscribe for, any securities in the United States, Canada,
Australia or Japan.
The Placing Shares have not been, nor will they be, registered under the
Securities Act or with any securities regulatory authority of any State or other
jurisdiction of the United States, and accordingly may not be offered, sold or
transferred within the United States except pursuant to an exemption from, or in
a transaction not subject to, registration under the Securities Act. No public
offering of the Placing shares will be made in the United States. The Placing
Shares are being offered and sold only outside the United States to persons who
are not U.S. persons as defined in and in accordance with Regulation S under the
Securities Act. The Company has not been and will not be registered under the
Investment Company Act and investors will not be entitled to the benefits of
such registration.
Any indication in this announcement of the price at which Ordinary Shares have
been bought or sold in the past cannot be relied upon as a guide to future
performance. No statement in this announcement is intended to be a profit
forecast or dividend forecast and no statement in this announcement should be
interpreted to mean that earnings per share of the Company for the current or
future financial years would necessarily match or exceed the historical
published earnings per share of the Company.
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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