bocadillo23 Oct 2009 02:33
of course but it doesn't appear in their announcement(below) or in any of the articles i've searched...
The Rights Issue
The Company is proposing to raise approximately £275 million, (net of expenses), by way of a Rights Issue of 300,658,239 New Ordinary Shares. The New Ordinary Shares will be offered by way of rights at an Issue Price of 95 pence per New Ordinary Share, payable in full on acceptance, to Qualifying Shareholders (other than, subject to certain exceptions, Qualifying Shareholders with a registered address in the United States or any Excluded Territory) on the basis of one New Ordinary Share for every two Existing Ordinary Shares held on the Record Date.
The Issue Price reflects a discount of 48 per cent. to the closing middle market price of 181.2 per Ordinary Share on 7 October 2009, being the latest practicable date prior to the announcement of the Rights Issue. The New Ordinary Shares will, when issued and fully paid, rank pari passu in all respects with the Existing Ordinary Shares including the right to all future dividends and other distributions declared, made or paid.
The completion of the Rights Issue will result in 300,658,239 New Ordinary Shares being issued, representing approximately 50 per cent. of the existing issued ordinary share capital of the Company as at 7 October 2009, being the latest practicable date prior to the announcement of the Rights Issue. Qualifying Shareholders who take up their pro rata entit