Result of Equity Issue

RNS Number : 6481Z

Yule Catto & Co PLC

18 January 2011

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

Yule Catto & Co Plc

18 January 2011

Successful completion of Rights Issue and placing of rump

Yule Catto & Co plc (the "Company") announced previously that, as at 11.00 am on 17 January2011, being the latest time and date for acceptance and payment, it had received valid acceptances in respect of 186,742,556 New Ordinary Shares, representing 96.15per cent. of the total number of New Ordinary Shares offered to Shareholders, pursuant to the Rights Issue announced by the Company on 13 December 2010.

The Company confirms that, in accordance with the arrangements set out in Part IV of the combined circular and prospectus published by the Company in connection with the Rights Issue and sent to shareholders on 13 December 2010 (the "Prospectus"), the Joint Bookrunners have procured subscribers for the 7,475,026 remaining New Ordinary Shares, for which valid acceptances were not received, at a price of 217 pence per New Ordinary Share.

The net proceeds from the sale of such New Ordinary Shares, after deduction of the Issue Price of 116 pence per New Ordinary Share and relevant costs (including any applicable brokerage and commissions and amounts in respect of VAT which are not recoverable), will be paid to those Qualifying Shareholders whose rights have lapsed in accordance with the terms of the Rights Issue, pro rata to their lapsed provisional allotments, save that individual amounts of less than £5.00 and fractions of a pence will not be so paid but will be retained for the Company's own benefit.  

Unless otherwise defined in this announcement, capitalised terms shall have the meaning given to them in the Prospectus.

Contacts

For further information please contact:

Yule Catto & Co plc                                                              Tel: [phone]

Adrian Whitfield, Chief Executive Officer

David Blackwood, Group Finance Director

HSBC                                                                                     Tel: [phone]

Sole financial adviser to Yule Catto

Charles Packshaw

Oliver Smith

Sponsor, joint global coordinator and joint bookrunner 

Nick Donald

Stuart Dickson

Barclays Capital                                                                   Tel: [phone]

Joint global coordinator and joint bookrunner

Jon Bathard-Smith

Tom Johnson

Derek McNulty

Collins Stewart                                                                     Tel: [phone]

Joint broker and joint bookrunner

Mark Dickenson

Bruce Garrow

Matt Goode

RBS Hoare Govett                                                               Tel: [phone]

Joint broker and joint bookrunner

Nick Adams

Lee Morton

MHP Communications                                                         Tel: [phone]

Andrew Jaques

John Olsen

Ian Payne

This Announcement is not for release, publication or distribution, directly or indirectly, in or into the United States, Australia, Canada, Japan or South Africa or any other jurisdiction into which the same would be unlawful.

This Announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in Australia, Canada, Japan,South Africa, or the United States or in any jurisdiction to whom or in which such offer or solicitation is unlawful. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada, Japan, South Africa the United States or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada, Japan,South Africa or the United States. The offer and sale of the securities referred to herein has not been and will not be registered under the US Securities Act or under the applicable securities laws of Australia, Canada, Japan or South Africa. There will be no public offer of securities in the United States, Australia, Canada, Japan or South Africa.  The availability of the Rights Issue to persons not resident in the United Kingdom may be affected bythe laws of the relevant jurisdictions. Such persons should inform themselves about and observe any application requirements.  Any failure to comply with these restrictions may constitute a violation of the securities laws of any jurisdiction.

HSBC which is authorised and regulated by the FSA in the United Kingdom, is acting exclusively for the Company as Sole Financial Adviser, Sole Sponsor, Joint Global Coordinator and Joint Bookrunner in connection with the Rights Issue and Admission and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Rights Issue or any other matters referred to in this Announcement.

Barclays Capital which is authorised and regulated by the FSA in the United Kingdom, is acting exclusively for the Company as Joint Global Coordinator and Joint Bookrunner in connection with the Rights Issueand Admission and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Rights Issue or any other matters referred to in this Announcement.

RBS Hoare Govett which is authorised and regulated by the FSA in the United Kingdom, is acting exclusively for the Company as Joint Bookrunner and Joint Corporate Broker in connection with the Rights Issueand Admission and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Rights Issue or any other matters referred to in this Announcement.

Collins Stewart which is authorised and regulated by the FSA in the United Kingdom, is acting exclusively for the Company as Joint Bookrunner and joint Corporate Broker in connection with the Rights Issueand Admission and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Rights Issue or any other matters referred to in this Announcement.

This Announcement is for information only and does not constitute or form part of any offer or invitation to issue, acquire or dispose of any securities or investment advice in any jurisdiction.

Copies of the Prospectus are available from the offices of the Company at Temple Fields, Harlow, Essex CM20 2BH and on the Company's website, www.yulecatto.com (although, neither the content of the Company's website (or any other website) nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this Announcement).

Apart from the responsibilities and liabilities, if any, which may be imposed on HSBC, Barclays Capital, RBS Hoare Govett and Collins Stewart by the FSMA, each of HSBC, Barclays Capital, RBS Hoare Govett and Collins Stewart accepts no responsibility whatsoever for, and makes no representation or warranty, express of implied, in relation to, the contents of this Announcement (including its accuracy, completeness or verification) or any other statement made or purported to be made by it, or on its behalf, in connection with the Company, the securities or the Rights Issue.  Each of HSBC, Barclays Capital, RBS Hoare Govett and Collins Stewart accordingly disclaims to the fullest extent permitted by law all and any responsibility and liability, whether arising in tort, contract or otherwise (save as referred to above), which it might otherwise have in respect of this announcement or any such statement.

 

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