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Freshwater UK PLC (FWUK)


Monday 26 April, 2010

Freshwater UK PLC

Result of Open Offer - CORREC

RNS Number : 8150K
Freshwater UK PLC
26 April 2010

This announcement replaces RNS number 8067K released at 4.10 pm on 26 April 2010. The amended information in this announcement concerns the total number of Offer Shares to be admitted to trading on AIM. The correct number was 3,024,157 Offer Shares to be admitted to trading on AIM.



Freshwater UK plc

("Freshwater UK" or the "Company")


Result of Open Offer



The Board of Freshwater UK is pleased to announce the result of the Open Offer which closed at 11.00 am, Monday 26 April 2010.


As announced on 31 March 2010, 3,088,492 Offer Shares were made available for subscription by the Company pursuant to the Open Offer. In addition, 2,000,000 Offer Shares had been subscribed for by Hillco Investments (UK) Limited ("Hillco") subject to claw back to satisfy valid applications from Qualifying Shareholders of their Open Offer Entitlements.


The total number of Offer Shares applied for by Qualifying Shareholders under their basic pro rata Open Offer Entitlements amounted to 1,024,157 Offer Shares representing 33.16 per cent. of the total number of Offer Shares available. Following the completion of the Open Offer, 1,024,157 Offer Shares have now been placed with Qualifying Shareholders and 2,000,000 Offer Shares with Hillco.


The total issued share capital of the Company is now 18,593,005 Ordinary Shares.


Following completion of the Open Offer, the Directors will have the following interests in Ordinary Shares:


Name of Director or Shareholder


Ordinary Shares held

immediately following the Open Offer

Percentage of

Total voting rights as enlarged by the Open Offer

Steve Howell



Edward Carter



Haydn Evans



Marie Louise Windeler



John Underwood




Hillco will hold 2,600,000 Ordinary Shares, representing 13.98 per cent. of the total voting rights of the Company.


Application has been made to the London Stock Exchange for the 3,024,157 Offer Shares to be admitted to trading on AIM. It is expected that such Admission will become effective and that dealings will commence at 8.00 a.m. on Wednesday 28 April 2010.


The definitions used in this announcement, unless otherwise stated, are as defined in the circular to shareholders dated 31 March 2010.


Commenting on the outcome of the Open Offer, Steve Howell said:


"The Board is delighted that the Open Offer has been successful. Raising more than £0.6m has allowed us to advance our growth strategy by acquiring Profile Plus in Edinburgh, while also strengthening our financial position.


In addition to the Directors and Hillco Investments, other key shareholders have demonstrated their strong support for the company and its strategy of building a PR group combining specialist expertise with a presence in every UK region and nation.


Profile Plus is already making a positive contribution to the group, both in trading terms and by giving us a stronger market position in Scotland.


Overall, we are very encouraged by the steady progress the company is making. Trading continues to be in line with expectations, and we look forward to updating shareholders further when we announce our interim results on or around May 17."



Enquiries to:


Freshwater UK

Steve Howell, Chief Executive

Haydn Evans, Finance Director

Alex Love, Corporate Affairs Director


02920 545 383

07791 200391

Charles Stanley Securities (Nominated Adviser)

Mark Taylor / Ben Johnston


Tel: 0207 149 6000


Notes to Editors:


·      Freshwater is a modern communications consultancy offering a wide range of services to clients across the UK, the Republic of Ireland and Brussels


·      With circa 90 professional staff working from offices throughout the UK as well as in Dublin and Brussels Freshwater offers specialist expertise in public relations, public affairs, stakeholder communications, social marketing, online media and creative services.


·      Freshwater has more than 300 clients in sectors as diverse as energy, transport, health, education, consumer, retail, local government, leisure, property, technology and professional services.




This information is provided by RNS
The company news service from the London Stock Exchange

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