Castelnau Group Regulatory News (CGL)

9 Mar 2006 13:35

Catlin Group Limited09 March 2006 This announcement is not for publication or distribution, directly orindirectly, in or into the United States, Canada, Australia, Japan, South Africaor any jurisdiction in which the same would be unlawful. 9 March 2006 Catlin Group Limited Result of Placing Catlin Group Limited ("Catlin" or the "Group"), is pleased to announce that,further to this morning's announcement of a proposed Placing, 7,704,900 newcommon shares of US$0.01 each have been successfully placed by JPMorgan CazenoveLimited ("JPMorgan Cazenove") acting as Sole Bookrunner and Joint Lead Managerand UBS Limited ("UBS" or "UBS Investment Bank") acting as Joint Lead Manager.Following the accelerated bookbuilding process, the Placing Price has been setat 500 pence per share, raising approximately £38 million, net of expenses. Application has been made for admission of the Placing Shares to listing on theOfficial List of the UK Listing Authority and to trading on the London StockExchange's market for listed securities (together, "Admission"). It is expectedthat Admission will become effective and dealings in the Placing Shares willcommence no later than 8.00 a.m. on 14 March 2006. The Placing is conditional upon the matters specified in this morning'sannouncement of the proposed Placing, including upon Admission becomingeffective by 8.00 a.m. on 14 March 2006 (or such later time and or date as theManagers and Catlin may agree). Subject to these conditions being satisfied, thePlacing Shares will be issued credited as fully paid and will rank pari passu inall respects with Catlin's existing common shares, including the right toreceive all future dividends and other distributions declared, made or paidafter the date of issue of the Placing Shares including (without limitation) thefinal dividend referred to in the Company's preliminary results announcement ofearlier today. It is expected that settlement by Placees will take place on 14March 2006. Enquiries: Catlin JPMorgan CazenoveMedia Relations: Tim WiseJames Burcke, Head of Communications Conor HilleryTel: +44 (0)20 7458 5710 Tel: +44 (0)20 7588 2828Mobile: +44 (0)7958 767 738E-mail:james.burcke@catlin.com Liz Morley, The Maitland Consultancy UBS Investment BankTel: +44 (0)20 7379 5151 Phil ShelleyE-mail:emorley@maitland.co.uk Tel: +44 (0) 20 7568 2730 Investor RelationsWilliam Spurgin, Head of Investor RelationsTel: +44 (0)20 7458 5726Mobile: +44 (0)7710 314 365E-mail:william.spurgin@catlin.com This announcement has been issued by, and is the sole responsibility of, Catlin. This announcement is not for publication or distribution, directly orindirectly, in or into the United States, Canada, Australia, Japan, South Africaor any jurisdiction in which the same would be unlawful. This announcement isfor information only and does not constitute an offer or invitation to acquireor dispose of Shares in the United States or any jurisdiction in which the samewould be unlawful. The shares have not been and will not be registered under theU.S. Securities Act of 1933, as amended (the "Securities Act") and may not beoffered or sold in the United States except pursuant to an exemption from, or ina transaction not subject to, the requirements of the Securities Act. There willbe no public offer of Shares in the United States, the United Kingdom orelsewhere. JPMorgan Cazenove, which is authorised and regulated by the FSA, is acting forthe Company in connection with the Placing and no one else and will not beresponsible to anyone other than the Company for providing the protectionsafforded to clients of JPMorgan Cazenove nor for providing advice in relation tothe Placing. UBS which is acting for the Company in connection with the Placing and no oneelse and will not be responsible to anyone other than the Company for providingthe protections afforded to clients of UBS nor for providing advice in relationto the Placing. This information is provided by RNS The company news service from the London Stock Exchange