Placing Announcement - Replac

RNS Number : 9591R

Ruffer Investment Company Limited

01 September 2010

 



This announcement replaces the one previously released at 7.00am on 1 September 2010

 with an RNS number of 9192R

1 September 2010

Ruffer Investment Company Limited (the "Company")

Placing Announcement

On 13 July 2010, the Board announced that, in view of the Company's performance, it was considering a further issue of shares.

After due consideration, the Board has concluded that it is an appropriate time to seek to raise additional capital in order to broaden the Company's investment base, thus potentially improving market liquidity for all Shareholders.

Accordingly, the Board is pleased to announce a proposed private placement of shares in the Company.

The Company is seeking to raise up to £50 million by way of the placing at a placing price which will be calculated by applying a premium of two per cent. to the unaudited net asset value per share as at the close of business on 10 September 2010. The placing price is expected to be announced on 13 September 2010.

The Company will publish a prospectus in relation to the placing on or around 2 September 2010, subject to the relevant regulatory approvals.

Expected Timetable

02 September 2010      Publication of prospectus

10 September 2010      NAV Calculation Date

13 September 2010      Placing price announced

14 September 2010      5pm Placing closes and results of the Placing announced

20 September 2010      Dealings in placing shares commences

Enquiries

Ruffer LLP

Steve Russell                  020 7963 8100

Alexander Bruce                020 7963 8100

Cenkos Securities plc

Charlie Ricketts              020 7397 1910

Phil Higgs                    020 7397 1913

Dion Di Miceli                020 7397 1921

This announcement is not for distribution directly or indirectly in or into the United States of America ("United States"), Australia, Canada, the Republic of South Africa or Japan. This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy shares in the capital of Ruffer Investment Company Limited in the United States, of America ("United States"), Australia, Canada, the Republic of South Africa or Japan or any jurisdiction in which such an offer or solicitation is unlawful. The shares referred to in this announcement have not been and will not be registered under the United States Securities Act of 1933 (as amended), or under the securities laws of any state or other political sub-division of the United States or under the applicable securities laws of any of Australia, Canada, the Republic of South Africa or Japan and may not be offered or sold within the United States absent registration or an exemption from registration. No public offering of securities will be made in the United States of America ("United States"), Australia, Canada, the Republic of South Africa or Japan.

This announcement has been communicated by Cenkos Securities plc, which is authorised and regulated in the United Kingdom by the Financial Services Authority, and does not constitute an offer to sell or a solicitation of an offer to purchase any securities. The price of shares may go down as well as up and investors may not get back the full amount invested on disposal of the shares.

 

END

 

 

MSCLIFSAASILIII