Unite Group PLC
7 April 2000
Not for release, publication or distribution in or into the United States of
America, Canada, Australia or Japan.
The Unite Group plc
Announcement of results of
Placing and Open Offer
and
Annual General Meeting and Extraordinary General Meeting
Introduction
On 15 March 2000, The Unite Group plc ('Unite') announced a Placing and Open
Offer of 18,985,473 new ordinary shares at 203p per share to raise £38.5
million (before expenses).
Results of the Placing and Open Offer
The Open Offer closed at 3.00 p.m. on Wednesday, 5 April 2000. Of the
18,985,473 new ordinary shares which were the subject of the Open Offer,
14,541,305 new ordinary shares were placed firm with institutional investors,
44,445 new ordinary shares were taken up by Directors and 4,399,723 new
ordinary shares were placed subject to recall to satisfy valid applications
under the Open Offer. Valid applications for 3,917,658 of these shares were
received, representing 88 per cent. of the shares not placed firm.
Results of the Annual General Meeting and Extraordinary General Meeting
At the Annual General Meeting of Unite which was held today at 10.00 a.m. all
the resolutions were duly passed. Similarly, at the Extraordinary General
Meeting of Unite which was held today at 10.05 a.m. the resolution to
implement the Placing and Open Offer was duly passed.
Admission to the Official List
The Placing and Open Offer has now become unconditional subject only to the
admission of the new ordinary shares to the Official List of the London Stock
Exchange becoming effective. It is expected that admission will become
effective and dealings in the new ordinary shares will commence on Tuesday, 11
April 2000, and that new share certificates will be despatched, and CREST
accounts credited, on the same day.
Geoffrey Maddrell, Chairman, said:
'We are delighted with the support we have received from both new investors
and existing shareholders. The proceeds of the Placing and Open Offer will
enable us to deliver the exciting projects in our pipeline and continue the
implementation of our growth strategy.'
For further information, please contact:
The Unite Group plc 0117 907 8100
Nicholas Porter, Chief Executive
David Ransome, Finance Director
Robert Fleming & Co. Limited 020 7638 5858
Simon Gorringe
Teather & Greenwood Limited 020 7426 9073
Richard Thompson/Martin Lampshire
Ludgate Communications 020 7253 2252
Tim Davis/Alex Brog
Robert Fleming & Co. Limited, which is regulated by The Securities and Futures
Authority Limited, is acting for The Unite Group plc and no one else in
connection with the Placing and Open Offer and will not be responsible to
anyone other than The Unite Group plc for providing the protections afforded
to customers of Robert Fleming & Co. Limited.
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