Results of Rights Issue
Expro International Group PLC
26 July 2006
Not for distribution or transmission, directly or indirectly in or into the
United States, Canada, Australia, Japan or South Africa
For Immediate Release Wednesday 26 July 2006
EXPRO INTERNATIONAL GROUP PLC
Results of Rights Issue
Expro International Group PLC announces that by 11.00 a.m. on 25 July 2006, the
latest time and date for acceptance and payment in full for New Shares pursuant
to the Rights Issue announced on 14 June 2006, valid acceptances were received
in respect of 24,172,116 New Shares, representing approximately 92.4 per cent.
of the New Shares offered by way of rights at 500 pence per New Share.
Expro International Group PLC also announces that, in accordance with the terms
of the Underwriting Agreement dated 14 June 2006, JPMorgan Cazenove Limited has
procured subscribers for the remaining 1,998,005 New Shares for which valid
acceptances were not received at a price of 620 pence per New Share.
The net proceeds, after deduction of the Rights Issue Price of 500 pence per New
Share, will, save for amounts less than £5.00, be paid to those persons whose
rights have lapsed in accordance with the terms of the Rights Issue, pro rata to
their lapsed provisional allotments.
Definitions used in the Prospectus dated 14 June 2006 shall have the same
meanings when used in this announcement, unless the context requires otherwise.
All references to time in this announcement are to the time in London.
- Ends -
For further information please contact:
Expro International Group PLC +44 (0) 1189 591341
Graeme Coutts, Chief Executive Officer
Michael Speakman, Finance Director
JPMorgan Cazenove Limited
(Financial adviser and corporate broker to Expro) +44 (0) 20 7588 2828
Barry Weir
Weber Shandwick | Square Mile
(Public relations adviser to Expro) +44 (0) 20 7067 0700
Rachel Taylor / Lana-Kathryn Pugh
JPMorgan Cazenove Limited is acting for Expro International Group PLC and no one
else in connection with the Acquisition and the Rights Issue and will not be
responsible to anyone other than Expro International Group PLC for providing the
protections afforded to it clients nor for giving advice in relation to the
Acquisition, the Rights Issue or any other matter referred to herein.
This announcement shall not constitute an offer of, or the solicitation of any
offer to subscribe or buy, any New Shares to any person in any jurisdiction to
whom or in which such offer or solicitation is unlawful. The distribution of
this announcement in certain jurisdictions may be restricted by law and
therefore persons into whose possession this announcement comes should inform
themselves about and observe any such restrictions. Any failure to comply with
these restrictions may constitute a violation of the securities laws of any such
jurisdiction. Any purchase of, or application for, securities in the Rights
Issue should only be made on the basis of information contained in the
Prospectus dated 14 June 2006 and any supplement thereto.
This announcement is not an offer of securities for sale in the United States.
Securities may not be offered or sold in the United States absent registration
or an exemption from registration. The New Shares have not been, nor will they
be, registered under the US Securities Act of 1933, as amended, or under the
securities laws of any state in the United States or under the applicable
securities laws of Canada, Australia, Japan or South Africa. Subject to certain
exceptions, the New Shares may not be offered or sold in the United States,
Canada, Australia, Japan or South Africa or to or for the benefit of any
national, resident or citizen of the United States, Canada, Australia, Japan or
South Africa.
This information is provided by RNS
The company news service from the London Stock Exchange
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