Hunting Regulatory News (HTG)

17 Aug 2005 07:00

Hunting PLC17 August 2005 NOT FOR DISTRIBUTION OR TRANSMISSION, DIRECTLY OR INDIRECTLY, IN OR INTO THEUNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF IRELAND OR THE REPUBLICOF SOUTH AFRICA. For immediate release 17 August 2005 Hunting PLC ("Hunting") Result of Rights Issue Hunting today announces that by 11am on 16 August 2005, the latest time and datefor acceptance and payment in full for New Ordinary Shares under the terms ofthe Rights Issue announced on 29 June 2005, valid acceptances were received inrespect of 24,732,074 New Ordinary Shares, representing approximately 97.47 percent. of the New Ordinary Shares offered by way of rights at 180 pence pershare. Hoare Govett will therefore be seeking subscribers for the remaining 641,258 NewOrdinary Shares. In accordance with the Directors' intentions, stated in the Prospectus dated 1July 2005, Dennis Proctor, Dennis Clark, Terry Gomke, Iain Paterson, GeorgeHelland and Hector McFadyen took up their rights to subscribe for New OrdinaryShares pursuant to the Rights Issue in full and Richard Hunting disposed ofsufficient of his Nil Paid Rights so as to enable him to subscribe for hisremaining entitlement to New Ordinary Shares. Following the Rights Issue, the shareholdings of the Directors and SeniorManagers are as follows: Shares subscribed in Nil Paid Shares sold in Holding % Rights Issue Rights IssueDirectorsRichardHunting 47,338 129,728 755,606 0.60Dennis 46,832 0 234,162 0.18ProctorDennis 43,678 0 218,393 0.17ClarkTerry 31,756 0 158,781 0.13GomkeIain 500 0 2,500 0.00PatersonGeorge 3,750 0 18,750 0.01HellandHectorMcFadyen 5,000 0 25,000 0.02 SeniorManagersWayne 3,428 0 17,141 0.01CarelsMike 8,678 0 43,391 0.03CollinsDoug 15,022 0 75,110 0.06CroteauRick 16,053 0 80,266 0.06TaylorSam 14,819 0 74,097 0.06McClementsRob Davie 6,593 0 32,968 0.03 In addition all subsisting options, including those for Directors and SeniorManagers, are expected to be adjusted for the bonus element of the Rights Issueby multiplying the number of options by a factor of 1.0694 and dividing the pershares exercise price by the same factor. Certain terms used in this announcement are defined and have the same meaning asin the Prospectus dated 1 July 2005. All references to time in this announcementare to London time. Enquiries: Hunting PLCDennis Proctor 001 281 442 7382Dennis Clark 020 7321 0123 Close Brothers 020 7655 3100Andrew CunninghamJack Newall Hoare Govett 020 7678 8000Andrew FosterBertie Whitehead The Hogarth Partnership 020 7357 9477Andrew JaquesEdward Westropp Close Brothers Corporate Finance Limited ("Close Brothers"), which is regulatedin the United Kingdom by The Financial Services Authority, is acting exclusivelyfor Hunting and for no one else in relation to the Rights Issue and will not beresponsible to anyone other than Hunting for providing the protections affordedto customers of Close Brothers or for providing advice in relation to the RightsIssue. Hoare Govett Limited ("Hoare Govett"), which is regulated in the United Kingdomby The Financial Services Authority, is acting exclusively for Hunting and forno one else in relation to the Rights Issue and will not be responsible toanyone other than Hunting for providing the protections afforded to customers ofHoare Govett or for providing advice in relation to the Rights Issue. The release, publication or distribution of this announcement in certainjurisdictions may be restricted by law and therefore persons in suchjurisdictions into which this announcement is released, published or distributedshould inform themselves about and observe such restrictions. THIS ANNOUNCEMENT DOES NOT CONSTITUTE, OR FORM PART OF, AN OFFER TO SELL OR THESOLICITATION OF AN OFFER TO SUBSCRIBE FOR OR BUY ANY SECURITIES, NOR THESOLICITATION OF ANY VOTE OR APPROVAL IN ANY JURISDICTION, NOR SHALL THERE BE ANYSALE, ISSUE OR TRANSFER OF THE SECURITIES REFERRED TO IN THIS ANNOUNCEMENT INANY JURISDICTION IN CONTRAVENTION OF APPLICABLE LAW. This information is provided by RNS The company news service from the London Stock Exchange