Jpel Priv Eqty Regulatory News (JPEL)

11 Mar 2008 08:31

Bear Stearns Private Equity Limited11 March 2008 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTOAUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OF AMERICA THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS AND INVESTORS SHOULDNOT SUBSCRIBE FOR OR PURCHASE ANY SHARES REFERRED TO IN THIS ANNOUNCEMENT EXCEPTON THE BASIS OF INFORMATION IN THE PROSPECTUS TO BE PUBLISHED BY BEAR STEARNSPRIVATE EQUITY LIMITED IN CONNECTION WITH THE PROPOSED PLACING. COPIES OF THEPROSPECTUS WILL, FOLLOWING PUBLICATION, BE AVAILABLE FROM THE BEAR STEARNSPRIVATE EQUITY LIMITED'S REGISTERED OFFICE. Bear Stearns Private Equity LimitedSt Martin's House, Le Bordage, St Peter Port, Guernsey GY1 4AU 11 March 2008 Regulatory News ServiceLondon Stock ExchangeLondonEC4M 7LS Dear Sir, BEAR STEARNS PRIVATE EQUITY LIMITED - FURTHER ISSUE OF SHARES Bear Stearns Private Equity Limited (the "Company") announces a placing underwhich it is targetting raising $250 million - $350 million in New Equity Sharesto fund additional acquisitions over approximately the next 9 months. This isthe Company's fourth fundraising since it was launched in 2005. The Company's current portfolio is nearly fully committed and invested inprivate equity assets. The proceeds will be used to invest in seasonedinterests in private equity funds globally. The Placing Price per New Equity Share is estimated at a 2.12 per cent. premiumto the 31 March 2008 net asset value (based on an issue size of $300 million).The final placing price will be announced on 18 April 2008. The premiumrepresents the estimated costs and expenses of the Placing. Bear Stearns International Limited, HSBC Private Bank (UK) Limited, HSBC PrivateBank (Monaco) SA, HSBC Private Bank (Luxembourg) SA, HSBC Private Bank (Suisse)SA, HSBC Private Bank (Suisse) SA, Hong Kong Branch, HSBC Private Bank (Suisse)SA, Singapore Branch, HSBC Securities (Japan) Limited, Tokyo Branch, TheHongkong and Shanghai Banking Corporation Limited, Seoul Branch, JPMorganCazenove, and Natixis have been appointed as placing agents in respect of theNew Equity Shares. JPMorgan Cazenove has been appointed sponsor. Expected TimetablePlacing price announced 18 April 2008Prospectus published 18 April 2008Closing of offering By end of April 2008 Enquiries: Bear Stearns Asset ManagementGreg Getschow / Troy Duncan +1 212 272 7732 HSBC entitiesMarina Gerova +44 (0) 20 7860 3052 JPMorgan CazenoveAngus Gordon Lennox +44 (0) 020 7588 2828 NatixisJean-Francois Tine +33 (0)1 58 55 05 81Peregrine Communications Anthony Payne / Max Hilton +44 (0) 20 7822 2300 / +44 (0) 7930 643 983 /anthony.payne@peregrinecommunications.co.uk THIS ANNOUNCEMENT HAS BEEN ISSUED BY, AND IS THE SOLE RESPONSIBILITY OF BEARSTEARNS PRIVATE EQUITY LIMITED. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF AN OFFER TO SELL,PURCHASE, EXCHANGE OR SUBSCRIBE FOR ANY SECURITIES OR SOLICITATION OF SUCH ANOFFER IN THE UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION. BEAR STEARNSPRIVATE EQUITY LIMITED HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITEDSTATES INVESTMENT COMPANY ACT OF 1940, AS AMENDED. THE SECURITIES REFERRED TO INTHIS ANNOUNCEMENT HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITEDSTATES SECURITIES ACT OF 1933, AS AMENDED, AND WILL NOT BE OFFERED OR SOLD OROTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT ORBENEFIT OF, US PERSONS EXCEPT IN ACCORDANCE WITH THE UNITED STATES SECURITIESACT OF 1933, AS AMENDED, OR AN EXEMPTION THEREFROM AND UNDER CIRCUMSTANCES WHICHWILL NOT REQUIRE BEAR STEARNS PRIVATE EQUITY LIMITED TO REGISTER UNDER THEUNITED STATES INVESTMENT COMPANY ACT OF 1940, AS AMENDED.THE RELEASE, PUBLICATION OR DISTRIBUTION OF THIS ANNOUNCEMENT INTO CERTAIN JURISDICTIONS OTHER THAN THE UK MAY BE RESTRICTED BY LAW AND THEREFORE PERSONS IN SUCH JURISDICTIONS INTO WHICH THIS ANNOUNCEMENT IS RELEASED, PUBLISHED OR DISTRIBUTED SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY SUCH RESTRICTIONS. ANY FAILURE TO COMPLY WITH ANY SUCH RESTRICTIONS MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OR REGULATION OF SUCH JURISDICTIONS. THIS ANNOUNCEMENT INCLUDES FORWARD-LOOKING STATEMENTS THAT ARE PREDICTIONS OF OR INDICATE FUTURE EVENTS AND FUTURE TRENDS. THESE FORWARD-LOOKING STATEMENTS INCLUDE ALL MATTERS THAT ARE NOT HISTORICAL FACTS. UNDUE RELIANCE SHOULD NOT BEPLACED ON FORWARD-LOOKING STATEMENTS BECAUSE THEY INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS THAT ARE IN MANY CASES BEYOND THE COMPANY'S CONTROL. BY THEIR NATURE, FORWARD-LOOKING STATEMENTS INVOLVE RISKS AND UNCERTAINTIES BECAUSE THEY RELATE TO EVENTS AND DEPEND ON CIRCUMSTANCES THAT MAY OR MAY NOT OCCUR IN THE FUTURE. FORWARD-LOOKING STATEMENTS ARE NOT GUARANTEES OF FUTURE PERFORMANCE, AND THE COMPANY'S ACTUAL RESULTS OF OPERATIONS, FINANCIAL CONDITION AND LIQUIDITY, AND THE DEVELOPMENT OF THE INDUSTRY IN WHICH IT OPERATES MAY DIFFER MATERIALLY FROM THOSE MADE IN OR SUGGESTED BY THE FORWARD-LOOKING STATEMENTS CONTAINED IN THIS ANNOUNCEMENT. THE CAUTIONARY STATEMENTS SET FORTH ABOVE SHOULD BE CONSIDERED IN CONNECTION WITH ANY SUBSEQUENT WRITTEN OR ORAL FORWARD-LOOKING STATEMENTS THAT THE COMPANY, OR PERSONS ACTING ON ITS BEHALF, MAY ISSUE. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS ANNOUNCEMENT AND ARE NOT INTENDED TO GIVE ANY ASSURANCES AS TO FUTURE RESULTS. SAVE AS REQUIRED BY LAW OR REGULATION, THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE THESE FORWARD-LOOKING STATEMENTS, AND WILL NOT PUBLICLY RELEASE ANY REVISIONS IT MAY MAKE TO THESE FORWARD-LOOKING STATEMENTS THAT MAY RESULT FROM EVENTS OR CIRCUMSTANCES ARISING AFTER THE DATE OF THIS ANNOUNCEMENT. JPMorgan Cazenove Limited, which is authorised and regulated in the UnitedKingdom by the Financial Services Authority, is acting for Bear Stearns PrivateEquity Limited and for no one else in connection with the matters referred to inthis announcement and will not be responsible to anyone other than Bear StearnsPrivate Equity Limited for providing the protections afforded to clients ofJPMorgan Cazenove Limited or for affording advice in relation to the contents ofthis announcement or on any matters referred to herein. END This information is provided by RNS The company news service from the London Stock Exchange