STOB.L Regulatory News (STOB)

3 Apr 2008 17:12

Stobart Group Limited03 April 2008 Not for release, publication or distribution in whole or in part, in or into theUnited States of America, Canada, Australia, the Republic of South Africa, Japanor any other jurisdiction if to do so would constitute a violation of therelevant laws of such jurisdiction Stobart Group Limited ("Stobart" or the "Company") RESULT OF OPEN OFFER On 10 March 2008, Stobart announced a placing and open offer of 57,675,188 newOrdinary Shares at 130 pence per share to raise approximately £75.0 millionwhich will be used to finance, inter alia, the cash and loan note elements ofthe consideration for the Acquisitions. The Board of Stobart announces that on 3 April 2008, being the latest date forreceipt of completed Application Forms and payment in full under the Open Offeror settlement of the relevant CREST instruction, valid applications had beenreceived from Qualifying Shareholders in respect of 21,939,525 new OrdinaryShares, representing approximately 60.81% per cent. of the new Ordinary Sharesavailable under the Open Offer, excluding those new Ordinary Shares whichcertain Shareholders had irrevocably undertaken not to take up. 14,141,459 new Ordinary Shares not applied for by Qualifying Shareholders underthe Open Offer will be taken up by placees under the terms of the Placing. The new Ordinary Shares will, on Admission, rank in full for all dividends andother distributions declared, made or paid on the Ordinary Shares afterAdmission (save that they will not rank for the final dividend declared by theCompany for the year ended 29 February 2008) and will otherwise rank pari passuin all respects with the Ordinary Shares in issue at the date of the Prospectus. The Acquisitions and the Placing and Open Offer remain conditional upon, interalia, admission of the new Ordinary Shares to the Official List and to tradingon the London Stock Exchange's market for listed securities. Application hasbeen made to the UK Listing Authority for the new Ordinary Shares to be admittedto the Official List and to the London Stock Exchange for admission to tradingon its market for listed securities. It is expected that Admission will becomeeffective and dealings in the new Ordinary Shares will commence on 4 April 2008. Terms used in this Announcement shall have the same meanings as in theProspectus which was sent to Shareholders on 10 March 2008. Stobart Group 01925 605 400Andrew Tinkler, Chief Executive OfficerBen Whawell, Chief Financial OfficerJulie Gaskell, Head of Communications Cenkos Securities 020 7397 8900Ian SoanesAdrian Hargrave Lansons Communications 020 7490 8828Charlie Field 07884 001148Karen Mignon 07766 651327 This information is provided by RNS The company news service from the London Stock Exchange