Last checked at 28 Jan 2009 12:59
28 January 2009
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL
Helical Bar plc ("Helical" or the "Company")
RESULTS OF PLACING
Helical Bar plc is pleased to announce the successful completion of the placing announced earlier today (the "Placing").
A total of 9,735,100 new ordinary shares of 1 pence each in Helical (the "Placing Shares") have been placed by JPMorgan Cazenove Limited at a price of 285 pence per Placing Share, raising gross proceeds of approximately £27.7 million. The Placing Shares being issued represent approximately 9.99 per cent. of Helical's issued ordinary share capital prior to the Placing.
Application will be made to the Financial Services Authority for admission of the Placing Shares to the Official List maintained by the UK Listing Authority and to the London Stock Exchange (the "LSE") for admission to trading of the Placing Shares on the LSE's main market for listed securities (together "Admission"). It is expected that Admission will take place on 2 February 2009 and that dealings in the Placing Shares on the LSE's main market for listed securities will commence at the same time.
Such new shares will rank pari passu with the existing Ordinary Shares of Helical.
Commenting on the Placing, Mike Slade, Helical's Chief Executive, said:
"The successful equity raising of £27.7 million provides us with the extra financial firepower to take even greater advantage of the significant value that is now emerging in the property market.
"We are delighted that, with the backing of existing and new investors, we are extremely well placed to move swiftly in selecting and executing the best deals to create long term value for our shareholders."
JPMorgan Cazenove acted as sole bookrunner in respect of the Placing.
For further information, please contact:
Helical Bar plc 020 7629 0113
Michael Slade (Chief Executive)
Mike Brown (Deputy Chief Executive)
Nigel McNair Scott (Finance Director)
Address: 11-15 Farm Street, London W1J 5RS
Fax: 020 7408 1666
Website: www.helical.co.uk
JPMorgan Cazenove 020 7588 2828
Robert Fowlds
Bronson Albery
Shona Graham
Financial Dynamics 020 7831 3113
Stephanie Highett
Dido Laurimore
Laurence Jones
This announcement is not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan or any jurisdiction into which the same would be unlawful. This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire shares in the capital of the Company in the United States, Canada, Australia or Japan or any jurisdiction in which such an offer or solicitation is unlawful. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption therefrom. The shares in the Company referred to in this Announcement have not been and will not be registered under the US Securities Act of 1933, as amended, and will not be offered or sold to the public in the United States. No money, securities or other consideration is being solicited and, if sent in response to the information herein, will not be accepted.
This Announcement has been issued by and is the sole responsibility of the Company. No representation or warranty express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by JPMorgan Cazenove Limited ("JPMC") or by any of its affiliates or agents as to or in relation to, the accuracy or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.
JPMC, which is authorised and regulated by the Financial Services Authority, is acting for the Company in connection with the offering of new ordinary shares to be issued by the Company (the "Placing") and no-one else and will not be responsible to anyone other than the Company for providing the protections afforded to clients of JPMC nor for providing advice in relation to the Placing.
The distribution of this Announcement and the Placing in certain jurisdictions may be restricted by law. No action has been taken by the Company or JPMC that would permit an offering of such shares or possession or distribution of this Announcement or any other offering or publicity material relating to such shares in any jurisdiction where action for that purpose is required. Persons into whose possession this Announcement comes are required by the Company and JPMC to inform themselves about, and to observe, such restrictions.
Certain statements in this Announcement are forward-looking statements which are based on the Company's, expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. The information contained in this announcement is subject to change without notice and neither the Company nor JPMC assume any responsibility or obligation to update publicly or review any of the forward-looking statements contained herein.
Any indication in this Announcement of the price at which ordinary shares have been bought or sold in the past cannot be relied upon as a guide to future performance. No statement in this Announcement is intended to be a profit forecast and no statement in this Announcement should be interpreted to mean that earnings per share of the Company for the current or future financial years would necessarily match or exceed the historical published earnings per share of the Company.