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11 Jun 2012 14:32
Dods (Group) plc ("Dods" or the "Company")
Placing update
On 12 January 2012, the Company announced a proposed acquisition of the DeHavilland Political Intelligence division of Emap Limited and a placing of 200,000,000 Ordinary shares to raise £11 million.
On 5 April 2012, the Company announced the placing of 76,950,944 of these new Ordinary shares to complete the VCT placing.
On 1 June 2012, the Company announced that the conditions attached to the placing and the acquisition had not been met but that Dods and Emap Limited continued to be engaged in dialogue on the terms of a possible new agreement.
These discussions continue but, in light of further potential acquisitions and having received indications of shareholder support, the Board of Dods has decided to continue with the placing regardless of the outcome of the acquisition. Accordingly the Company intends, subject to appropriate authorities, to place up to 123,049,056 new Ordinary Shares at 5.5p each. Further details of this placing will be announced in due course.
Unless the context otherwise requires, terms defined in the announcement of 12 January 2012 shall have the same meaning in this announcement.
For further information please contact:
Dods (Group) plc +44 (0) 202 7593 5500
Keith Sadler, Finance Director
Cenkos +44 (0)207 397 8900
Nicholas Wells/Adrian Hargrave
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