Result of Rights Issue

RNS Number : 1548Q

Beazley Group PLC

03 April 2009

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN 

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale or purchase of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The availability of the Rights Issue to persons not resident in the United Kingdom may be affected by the laws of the relevant jurisdictions. Such persons should inform themselves about and observe any applicable requirements. 

3 April 2009

For Immediate Release

Beazley Group plc ('Beazley')

Results of Rights Issue 

Beazley today announces that under the terms of the 9 for 19 Rights Issue announced on 13 February 2009, valid acceptances have been received in respect of 138,428,098 New Shares, representing approximately 83.6 per cent. of the total number of New Shares offered to Shareholders. 

The Rights Issue was fully underwritten by Numis Securities Limited. 

It is expected that the New Shares will commence trading fully paid on the London Stock Exchange's main market for listed securities at 8.00am on Monday 6 April 2009. 

It is expected that the New Shares in uncertificated form will be credited to CREST accounts on Monday 6 April 2009, and that definitive share certificates in respect of New Shares in certificated form will be despatched to shareholders by no later than Wednesday 15 April 2009. 

As disclosed on page 63 of the prospectus relating to the Rights Issue dated 13 February 2009 ('the Prospectus'), Numis Securities Limited, acting as Underwriter, will be seeking subscribers for the remaining 21,200,606 New Shares not validly taken up in the Rights Issue  (excluding the 5,960,931 New Shares in respect of the Renounced Shares which have been placed firm with placees procured by Numis Securities Limited). A further announcement as to the number of New Shares for which acquirers have been procured will be made in due course.

Definitions used in the Prospectus shall have the same meaning when used in this announcement, unless the context requires otherwise. 

For more information contact:  

-  ENDS -

Enquiries:
Beazley Group PLC	[phone]
Andrew Horton, Chief Executive Officer
Arthur Manners, Company Secretary
Numis Securities Limited	[phone]
Oliver Hemsley
Tom Booth
Lexicon Partners Limited	[phone]
Angus Winther
Nick Chapman
Finsbury	[phone]
Vanessa Neill

Numis Securities Limited and Lexicon Partners Limited are both authorised and regulated in the United Kingdom by the FSA, are acting for Beazley and no-one else in connection with the Rights Issue, and will not regard any other person as a client in relation to the Rights Issue, and will not be responsible to anyone other than Beazley for providing the protections afforded to their respective clients or for providing advice in relation to the Rights Issue or any matters referred to in this announcement.

This announcement does not constitute or form part of any offer or invitation to purchase, otherwise acquire, subscribe for, sell, otherwise dispose of or issue, or any solicitation of any offer to sell, otherwise dispose of, issue, purchase, otherwise acquire or subscribe for, any security. 

This announcement is an advertisement and does not constitute a prospectus. Nothing in this announcement should be interpreted as a term or condition of the Rights Issue. Any decision to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any Provisional Allotment Letter, Nil Paid Rights, Fully Paid Rights and New Shares must be made only on the basis of the information contained in and incorporated by reference into the Prospectus. 

 

END

 

 

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