Wood Group (John) PLC
13 September 2005
John Wood Group PLC ('Wood Group')
For immediate release.
Not for release, publication or distribution, in whole or in part, in or into
the US, Canada, Australia, South Africa or Japan.
Further to this morning's announcement regarding, inter alia, the placing of
Placing Shares (the 'Announcement'), the placing price and size of the issue
have now been determined following the completion of the book building process.
Defined terms in this announcement have, unless the context otherwise requires,
the same meanings given to them in the Announcement. Wood Group confirms that a
total of 24,176,550 Placing Shares have been placed by Credit Suisse First
Boston (Europe) Limited and JPMorgan Cazenove at a price of 210 pence per
Placing Share, raising approximately $92.5m before expenses.
The Placing Shares will be issued credited as fully paid and will rank pari
passu in all respects with Wood Group's existing ordinary shares, including the
right to receive all future dividends and other distributions declared, made or
paid after the date of issue of the Placing Shares.
Application will be made for admission of the Placing Shares to listing on the
Official List of the UK Listing Authority and to trading on the London Stock
Exchange's market for listed securities (together, 'Admission'). It is expected
that Admission will become effective and dealings in the Placing Shares will
commence no later than 8.00 a.m. on 16 September 2005.
The Placing is conditional, inter alia, upon Admission becoming effective by
8.00 a.m. on 16 September 2005 (or such later time and or date as the Managers
and Wood Group may agree) and on no force majeure event having occurred before
Admission.
13 September 2005
Enquiries to:
John Wood Group PLC tel: +44 (0) 1224 851000
Alan Semple, Group Finance Director
Nick Gilman, Investor Relations
Credit Suisse First Boston (Europe) Limited tel: +44 (0) 20 7888 8888
James Leigh-Pemberton
Richard Crawley
JPMorgan Cazenove Limited tel: +44 (0) 20 7588 2828
John Paynter
Robert Constant
Brunswick tel: +44 (0) 20 7404 5959
Patrick Handley
Nina Coad
This announcement does not constitute an invitation to underwrite, subscribe for
or otherwise acquire or dispose of any ordinary shares in the capital of the
Company (the 'Wood Group Shares'). Past performance is no guide to future
performance and any investment decision to buy Placing Shares must be made
solely on the basis of Publicly Available Information (as defined below).
Persons needing advice should consult an independent financial adviser.
This announcement is not for publication or distribution, directly or
indirectly, in or into the United States. This announcement is for information
only and does not constitute an offer or invitation to acquire or dispose of
Wood Group Shares in the United States. The Wood Group Shares have not been and
will not be registered under the U.S. Securities Act of 1933, as amended, (the '
Securities Act') and may not be offered or sold in the United States except
pursuant to an exemption from, or in a transaction not subject to, the
requirements of the Securities Act. There will be no public offer of Wood Group
Shares in the United States, the United Kingdom or elsewhere.
The distribution of this announcement and the offering or sale of the Placing
Shares in certain jurisdictions may be restricted by law. No action has been
taken by the Company, Credit Suisse First Boston or JPMorgan Cazenove that would
permit an offering of such ordinary shares or possession or distribution of this
announcement or any other offering or publicity material relating to such
ordinary shares in any jurisdiction where action for that purpose is required.
Persons into whose possession this announcement comes are required by the
Company, Credit Suisse First Boston and JPMorgan Cazenove to inform themselves
about and to observe any such restrictions.
Credit Suisse First Boston, which is authorised and regulated by the FSA, is
acting for Wood Group in connection with the Placing and no one else and will
not be responsible to anyone other than Wood Group for providing the protections
afforded to clients of Credit Suisse First Boston nor for providing advice in
relation to the Placing.
JPMorgan Cazenove, which is authorised and regulated by the FSA, is acting for
Wood Group in connection with the Placing and no one else and will not be
responsible to anyone other than Wood Group for providing the protections
afforded to clients of JPMorgan Cazenove nor for providing advice in relation to
the Placing.
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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