Last checked at 22 Jul 2009 12:30
THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
22 July 2009
Marston's PLC ("Marston's" or "the Company")
Successful completion of Rights Issue and placing of rump
Marston's announced previously that it had received valid acceptances in respect of 273,269,134 New Shares, representing approximately 91.44% per cent of the total number of New Shares offered to Qualifying Shareholders, pursuant to the Rights Issue announced by the Company on 18 June 2009.
Marston's confirms that, in accordance with the arrangements set out in Parts III and VII of the prospectus sent to Shareholders dated 18 June 2009 ("Prospectus"), RBS Hoare Govett and J.P. Morgan Cazenove, acting as Joint Bookrunners, have today procured subscribers for the 25,596,096 remaining New Shares not validly taken up, at a price of 85 pence per New Share. The net proceeds from the sale of such New Shares, after deduction of the Issue Price of 59.0 pence per New Share and the expenses of procuring subscribers (including any applicable brokerage and commissions and amounts in respect of VAT), will be paid to those Shareholders whose rights have lapsed in accordance with the terms of the Rights Issue, pro rata to the relevant provisional allotments not taken up, save that amounts of less than £5.00 per holding will not be so paid but will be aggregated and will accrue for the benefit of the Company.
Unless otherwise defined in this announcement, capitalised terms shall have the meaning given to them in the Prospectus.
Contacts
For further information please contact:
Marston's PLC
+44 (0)1902 711 811
Ralph Findlay, Chief Executive
Andrew Andrea, Finance Director
Hudson Sandler:
+44(0)20 7796 4133
Andrew Hayes
Nick Lyon
James White
DISCLAIMER
This announcement does not constitute or form part of any offer or invitation to purchase, otherwise acquire, subscribe for, sell, otherwise dispose of or issue, or any solicitation of any offer to sell, otherwise dispose of, issue, purchase, otherwise acquire or subscribe for, any security.
This announcement is an advertisement and does not constitute a prospectus or prospectus equivalent document. Nothing in this announcement should be interpreted as a term or condition of the Rights Issue. Any decision to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any Provisional Allotment Letter, Nil Paid Rights, Fully Paid Rights, and/or New Shares must be made only on the basis of the information contained in and incorporated by reference into the Prospectus. Copies of the Prospectus are available at the Company's registered office.
RBS Hoare Govett, J.P. Morgan Cazenove and Rothschild, which are regulated in the United Kingdom by the Financial Services Authority, are acting exclusively for the Company and for no-one else in relation to the Rights Issue and will not be responsible to anyone other than the Company for providing the protections afforded to their respective customers or for providing advice in relation to the Rights Issue or the contents of this announcement or any of the other matters referred to in this announcement.
The New Shares, the Nil Paid Rights, the Fully Paid Rights and the Provisional Allotment Letters have not been and will not be registered under the US Securities Act of 1933, as amended (the US Securities Act) and may not be offered, sold, taken up, exercised, resold, renounced, transferred or delivered, directly or indirectly, in the United States absent registration or pursuant to an exemption from, or in transactions not subject to, the registration requirements of the US Securities Act.