LONDON (Alliance News) - Lamprell PLC Thursday said two of executives bought shares at a price of 88 pence a share in the company's rights issue.
Details are as follows.
Name and position | Registered holder of shares | Ordinary shares acquired pursuant to rights issue | Price at which the ordinary shares were acquired (£) | Total holding following rights issue | Total percentage of issued share capital |
Peter Whitbread | Peter Whitbread | 521,022 | 458,499.36 | 2,188,294 | 0.64 |
Kevin Isles (Senior Executive, VP) | HSBC Share Dealing | 103,387 | 90,980.56 | 434,228 | 0.13 |
Lamprell earlier said the 5 for 16 rights issue it announced last month was fully subscribed, after it achieved a high level of acceptances in the offer and the bookrunners found investors to take up the small portion left.
On May 16, Lamprell said it would look to raise roughly USD120.3 million through a 5-for-16 rights issuance of 81.4 million shares at 88 pence a share. It also arranged a new USD350 million banking facility, replacing previous facilities. It said it would use USD60 million of the rights issue cash in a yard investment programme and USD10.6 million to pay down debt.
On Thursday, it said it had received valid acceptances for 78.5 million shares in the rights issue, 96.52% of the total, and bookrunners JP Morgan and HSBC Bank then found subscribers for the remaining 2.8 million shares.
The oil equipment company also said, John MacDonald, divisional vice president bought 30,000 shares at 150.72p each Monday. He now holds 32,000 shares.
Shares were up 1.8% at 153.00 pence Thursday.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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