LOG.L Regulatory News (LOG)

11 Dec 2008 07:00

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES

11 December 2008

Logica completes its equity placing of ‚£90.5 million

Further to the announcement on 10 December 2008, Logica plc ("Logica") announces the successful placement (the "Placing") of 135,000,000 ordinary shares of 10p each (the "Shares") in the capital of Logica.

The Shares were placed with investors at a price of 67 pence per Share and represent, in aggregate, approximately 9.2 per cent. of the current issued ordinary share capital of Logica. Based on the placing price, the gross proceeds will be approximately ‚£90.5 million.

Commenting on today's announcement, David Tyler, Chairman, said:

"We are pleased with the success of the placing. This represents another step in our plan to ensure Logica has the appropriate financing in place, especially in the context of the severe tightening in debt markets over the last few months. This supplements the ¢â€š¬500 million of additional bank facilities we announced in November. These demonstrations of support from both our banks and our major shareholders are excellent news for Logica, our people and customers."

Logica's major shareholders, Schroders and Aviva, commented:

"We are delighted to have been actively involved in this initiative. The capital raising represents another step forward in improving the strategic, operational and financial positioning of Logica. With additional financial flexibility, management can focus on improving long term shareholder value with increased confidence"

Deutsche Bank AG ("Deutsche Bank") and Merrill Lynch International ("Merrill Lynch" and together with Deutsche Bank, the "Managers") acted as Joint Bookrunners.

Notes to editors:

This announcement follows on from the announcement regarding the placing of shares and a rebasing of the dividend issued on 10 December 2008.

For further information:

Logica Investor relations Karen Keyes/Frances Gibbons +44(0) 20 7446 1338/+44 (0) 7801 723 682

Logica media relations Carolyn Esser/Louise Fisk +44 (0) 20 7446 2887/ +44 (0) 7841 602 391/+44 (0) 7798 857 770

Merrill Lynch International Michael Findlay/Andrew Fairclough/Oliver Holborn

+44 (0) 20 7996 1000

Deutsche Bank Charles Wilkinson/Louise Miller/Ed Sankey

+44 (0) 20 7545 8000Brunswick Tom Buchanan+44 (0) 20 7404 5959General

This announcement has been issued by and is the sole responsibility of Logica plc.

An application has been made for, and the Placing is conditional on, inter alia, admission of the Placing Shares to listing on the Official List maintained by the UK Listing Authority and to admission to trading by the London Stock Exchange on its market for listed securities (together "Admission"). The Placing Shares will be issued credited as fully paid and will rank pari pasu with the existing ordinary shares of Logica, including the right to receive all dividends and other distributions declared, made or paid after the date of issue. It is expected that Admission will take place on 16 December 2008.

This announcement and the information contained herein is for information purposes only and does not constitute or form part of any offer or an invitation to acquire or dispose of any securities in the United States, Canada, Australia or Japan or in any other jurisdiction in which such an offer or invitation is unlawful. Neither this announcement nor any copy of it may be taken, transmitted or distributed, directly or indirectly, in or into or from the United States, Canada, Australia or Japan or in any jurisdiction in which such publication or distribution is unlawful. Any failure to comply with this restriction may constitute a violation of United States, Canadian, Australian or Japanese securities laws.

The Placing Shares have not been, and will not be, registered under the US Securities Act of 1933, as amended, (the "Securities Act") or under the securities laws of any State or other jurisdiction of the United States, and, absent registration, may not be offered, sold or transferred in the United States or to a U.S. person (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or as part of a transaction not subject to, the registration requirements of the Securities Act and the securities laws of any State or other jurisdiction of the United States. There will be no public offering of securities in the United States or elsewhere.

Certain statements made in this announcement are forward looking statements. Such forward looking statements are based on current expectations and numerous assumptions regarding the Company's present and future business strategies and the environments in which the Company will operate in the future. Such assumptions may or may not prove to be correct and actual results and performance could differ materially from any expected further results or performances, express or implied, by the forward looking statements. Factors that might cause forward looking statements to differ materially from actual results include, among other things, changes in global, political, economical, business, competitive, market and regulatory forces, future exchange and interest rates and future business combinations or disposals. The Company expressly disclaims and assumes no responsibility to update or revise any of the forward looking statements contained in this announcement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

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 ordinary share for the current or future financial years would necessarily match or exceed the historical published earnings per ordinary share.

Any investment decision to buy securities in the Placing must be made solely on the basis of publicly available information which has not been independently verified by Logica or any of the Managers. 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 Deutsche Bank, Merrill Lynch or by any of their respective 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.

The price of shares and the income from them may go down as well as up and investors may not get back the full amount invested on disposal of the shares.

The distribution of this announcement and the offering or sale of the Shares in certain jurisdictions may be restricted by law. No action has been taken by Logica, the Managers or any of their respective affiliates that would, or which is intended to, permit (i) a public offer of the Placing Shares in any jurisdiction or (ii) possession or distribution of this announcement or any other offering or publicity material relating to the Placing Shares in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required by Logica and the Managers to inform themselves about and to observe any such restrictions.

Deutsche Bank AG is authorised under German Banking Law (competent authority: BaFin - Federal Financial Supervising Authority) and regulated by the Financial Services Authority for the conduct of UK business. Deutsche Bank AG is acting exclusively for the Company and no one else in connection with the Placing and the other matters referred to in this announcement. Deutsche Bank will not be responsible to anyone other than the Company for providing the protections afforded to clients of Deutsche Bank nor for providing advice in connection with the Placing and the other matters referred to herein.

Merrill Lynch, which is authorised and regulated in the United Kingdom by the FSA, is acting exclusively for Logica and no one else in connection with the Placing, and will not be responsible to anyone other than Logica for providing the protections offered to customers of Merrill Lynch nor for providing advice in relation to the Placing or any other matter referred to herein.