Orogen Gold Regulatory News (ORE)

10 May 2007 18:02

Aricom PLC10 May 2007 Press Release 10 May 2007 THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA, THE RUSSIAN FEDERATION OR THE UNITED STATES Aricom PLC ('Aricom' or the 'Company') Result of Placing Aricom announces that a total of 133 million Units comprising in aggregate 399million New Shares and 133 million Warrants have been successfully placed byCanaccord Adams and JPMorgan Cazenove (jointly the 'Lead Managers') at a priceof 210 pence per Unit, raising approximately US$554 million (£279.3 million)before expenses. Jay Hambro, Chief Executive of Aricom plc, commented: "We are delighted with the market's positive response to our fund raising. Weare particularly pleased with the continued support of our shareholder base andwe look forward to welcoming our new shareholders. Aricom's ability to achievethis substantial share placing demonstrates the market's appreciation of ourasset base and our extensive construction and development programme." The New Shares will be issued credited as fully paid and will rank pari passu inall respects with Aricom's existing ordinary shares, including the right toreceive all future dividends and other distributions declared, made or paidafter the date of issue of the New Shares. The terms of the Warrants providethat each Warrant will be exercisable immediately on issue and at any pointduring the life of the Warrant on payment to the Company of the exercise priceof 80p per Warrant. The Warrants have a life of 3 years save for certaincircumstances where early termination provisions apply. The New Shares and theWarrants will be separately transferable as of the Settlement Date. Application will be made for admission of the New Shares to trading on the AIMMarket of the London Stock Exchange ('Admission'). It is expected thatAdmission will become effective and dealings in the New Shares will commence at8.00 a.m. on 5 June 2007. No application is being made for the admission of theWarrants to AIM Market of the London Stock Exchange. It is anticipated that theWarrants will be admitted to the Official List of the UK Listing Authority andto trading on the Main Market of the London Stock Exchange in conjunction withthe Admission of the Company's ordinary shares to trading on the Main Market,the intention of which was announced by the Company in this morning'sannouncement. The Placing is conditional, inter alia, upon shareholder approval, Admissionbecoming effective on 5 June 2007 (or such later date as the Lead Managers andAricom may agree, this being no later than 30 June 2007), the delivery ofcertain documents including legal opinions and on no force majeure event havingoccurred before Admission. Aricom has a portfolio of assets at varying stages of development all of whichhave now been the subject of third party studies enabling the Board to considerappropriate investment decisions. The proceeds of the Placing will be used toprovide funding for construction and development of the Group's portfolio ofassets in Russia's Far East, for general working capital and corporatedevelopment purposes. JPMorgan Cazenove is acting as Bookrunner on the Placing. For further information: Aricom plcJay Hambro, Chief Executive Tel: +44 (0) 20 7201 8939 www.aricom.plc.uk Canaccord Adams Tel +44 (0) 20 7050 6500Robert Finlay / Chris Bowman www.canaccordadams.com JPMorgan CazenoveIan Hannam / Patrick Magee / Robert Stafler Tel: +44 (0) 207 588 2828 www.jpmorgancazenove.com Abchurch CommunicationsCharlie Jack / George Parker Tel: +44 (0) 20 7398 7700 www.abchurch-group.com Terms defined in this morning's announcement of the Placing have, unless thecontext otherwise requires, the same meanings when used in this announcement. This announcement does not constitute an invitation to underwrite, subscribe foror otherwise acquire or dispose of any ordinary shares or warrants in thecapital of the Company ('Aricom Securities'). Past performance is no guide tofuture performance and any investment decision to buy Units must be made solelyon the basis of Publicly Available Information (as defined in the Appendix tothis morning's announcement of the Placing). Persons needing advice shouldconsult an independent financial adviser who specialises in advising inconnection with shares and other securities. This announcement is not for publication or distribution, directly orindirectly, in or into the United States. This announcement is for informationonly and does not constitute an offer or invitation to acquire or dispose ofAricom Securities in the United States. The Aricom Securities have not been andwill not be registered under the U.S. Securities Act of 1933, as amended, (the'Securities Act') and may not be offered or sold in the United States exceptpursuant to an exemption from, or in a transaction not subject to, theregistration requirements of the Securities Act. There will be no public offerof Aricom Securities in the United States, the United Kingdom or elsewhere. The distribution of this announcement and the offering or sale of the AricomSecurities in certain jurisdictions may be restricted by law. Further details inrelation to the securities laws in certain jurisdictions are set out under theheading 'General' in the Appendix to this morning's announcement of the Placing.No action has been taken by the Company, Canaccord or JPMorgan Cazenove thatwould permit an offering of such ordinary shares or possession or distributionof this announcement or any other offering or publicity material relating tosuch ordinary shares in any jurisdiction where action for that purpose isrequired. Persons into whose possession this announcement comes are required bythe Company, Canaccord and JPMorgan Cazenove to inform themselves about and toobserve any such restrictions. No representation or warranty, express or implied, is or will be made as to, orin relation to, and no responsibility or liability is or will be accepted byCanaccord or JPMorgan Cazenove or by any of their affiliates or agents as to orin relation to, the accuracy or completeness of this announcement, or any otherwritten or oral information made available to or publicly available to anyinterested party or its advisers and any liability therefore is hereby expresslydisclaimed. Canaccord, which is authorised and regulated by the FSA, is acting for Aricom inconnection with the Placing and no one else and will not be responsible toanyone other than Aricom for providing the protections afforded to clients ofCanaccord nor for providing advice in relation to the Placing. JPMorgan Cazenove, which is authorised and regulated by the FSA, is acting forAricom in connection with the Placing and no one else and will not beresponsible to anyone other than Aricom for providing the protections affordedto clients of JPMorgan Cazenove nor for providing advice in relation to thePlacing. This information is provided by RNS The company news service from the London Stock Exchange