NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OF AMERICA OR TO US PERSONS
THIS ANNOUNCEMENT IS AN ADVERTISMENT AND NOT A PROSPECTUS AND INVESTORS SHOULD NOT SUBSCRIBE FOR OR PURCHASE ANY SHARES REFERRED TO IN THIS ANNOUNCEMENT EXCEPT ON THE BASIS OF INFORMATION IN THE PROSPECTUS PUBLISHED BY ELECTRA PRIVATE EQUITY INVESTMENTS PLC IN CONNECTION WITH THE PLACING. COPIES OF THE PROSPECTUS ARE AVAILABLE from the registered office of ELECTRA PRIVATE EQUITY INVESTMENTS PLC.
31st July 2009
ELECTRA PRIVATE EQUITY PLC
ISSUE OF ZERO DIVIDEND PREFERENCE SHARES: RESULT OF PLACING AND PUBLICATION OF PROSPECTUS
On 20th July 2009, Electra Private Equity plc ('Electra') announced that its new wholly-owned subsidiary, Electra Private Equity Investments PLC (the 'Company') was undertaking an institutional cash placing (the 'Placing') through the issue of Zero Dividend Preference Shares ('ZDPs'). The pathfinder prospectus in connection with the Placing was published on 22nd July 2009 and the final prospectus (the 'Prospectus') has been published by the Company today.
Electra is pleased to announce that 43 million ZDPs have been placed with institutions at a Placing Price of 100 pence per ZDP. The Placing has now closed in accordance with its terms.
The ZDPs are expected to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's Main Market at 8.00 a.m. on 5th August 2009.
The ZDPs will have an initial capital entitlement of 96.26 pence and will be entitled to a final capital entitlement of 155.41 pence on 5th August 2016. Receipt of the final capital entitlement of 155.41 pence on 5th August 2016 would equate to a redemption yield of 6.5 per cent. per annum based on the Placing Price.
Set out below is an expected timetable of forthcoming events in relation to the Placing.
TIMETABLE |
Date* |
Admission to listing of the ZDPs Dealings to commence on the London Stock Exchange |
5th August 2009 |
CREST (stock) accounts credited |
5th August 2009 |
Certificates despatched for the ZDP Shares |
12th August |
*May be subject to change
For further information, please contact:
J.P. Morgan Cazenove
|
|
Michael Wentworth-Stanley/William Simmonds
|
Tel: +44 (0)20 7588 2828
|
For Electra Private Equity PLC and Electra Partners LLP
|
|
Louise Hatch, M:Communications
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Tel : +44(0)20 7153 1516
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Caroline Villiers, M:Communications
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Tel : +44(0)20 7153 1521
|
This announcement should be read in conjunction with the full text of the Prospectus published by the Company today.
A copy of the Prospectus will be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at: The Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS. In addition, copies of the Prospectus will be made available for inspection during normal business hours on any weekday at the Company's principal place of business in the UK, being Paternoster House, 65 St. Pauls Churchyard, London EC4M 8ABJ, until 5th August 2009.
Capitalised terms used, but not defined, in this announcement have the same meanings as given to them in the Prospectus.
J.P. Morgan Cazenove is authorised and regulated by the Financial Services Authority in the UK and is acting for Electra and the Company and no one else in connection with the Placing. J.P. Morgan Cazenove will not be responsible to anyone (including Placees) other than Electra and the Company for providing the protections afforded to its clients or for providing advice in relation to the Placing or any other matters referred to in this announcement.
The distribution of the Prospectus in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.