Stvg Regulatory News (STVG)

19 Dec 2007 07:02

SMG PLC19 December 2007 SMG PLC Results of Rights Issue SMG PLC 19 December 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTOAUSTRALIA, CANADA, JAPAN OR THE UNITED STATES. SMG plc ("SMG" or "the Company") Results of Rights Issue SMG announces that its 2 for 1 Rights Issue of 633,850,220 New Shares at 15pence per New Share, as detailed in the Prospectus to Shareholders dated 6November 2007, was successfully concluded at 11:00 a.m. on 18 December 2007, byraising the full amount of £95.1 million targeted by the Company at the start ofthe process. As previously announced on 30 November 2007, the Company will payback its existing debt facilities in their entirety and return to normalisedborrowing levels at standard commercial terms. The Company received valid acceptances in respect of 361,826,911 New Shares fromQualifying Shareholders, which represents an aggregate take-up of approximately57.08 per cent. The remaining 272,023,309 New Shares, none of which have been sold at a premiumto the Issue Price, will be taken up at the issue price of 15 pence per share bysub-underwriters procured by Hoare Govett, being financial institutions andexisting shareholders. It is expected that the New Shares in uncertificated form will be credited toCREST accounts on 19 December 2007 and that definitive share certificates inrespect of New Shares in certificated form will be dispatched to shareholders by21 December 2007. Definitions used in the Prospectus dated 6 November 2007 apply in thisannouncement unless the context otherwise requires. Enquiries: SMG plcTel: 020 7882 1199Rob Woodward, Chief ExecutiveGeorge Watt, Chief Financial OfficerDebbie Johnston, Head of Communications Hoare Govett Limited (Sponsor, financial adviser, corporate broker and underwriter)Tel: 020 7678 8000Sara HaleStephen BowlerLee Morton Brunswick Group LLP Tel: 020 7404 5959James HoganSimon SporborgAsh Spiegelberg Other information Hoare Govett Limited, which is authorised and regulated in the UK by theFinancial Services Authority, is acting as sponsor, underwriter, broker andfinancial adviser exclusively for the Company and no one else in connection withthe Rights Issue and the admission of the New Shares to the Official List and totrading on the London Stock Exchange's main market for listed securities andwill not be responsible to anyone other than the Company for providingprotections afforded to clients of Hoare Govett Limited and will not be advisinganyone other than the Company in relation to the Rights Issue, the proposedadmission to listing or trading, or any other matters referred to in thisannouncement. The release, publication or distribution of this announcement into certainjurisdictions other than the UK may be restricted by law and therefore personsin such jurisdictions into which this announcement is released, published ordistributed should inform themselves about and observe any such restrictions.Any failure to comply with any such restrictions may constitute a violation ofthe securities laws or regulation of such jurisdictions. This announcement is not for release, publication or distribution, directly orindirectly, in whole or in part, in or into Australia, Canada, Japan or theUnited States and does not constitute, or form part of, an offer or thesolicitation of an offer, or inducement, or invitation to subscribe for, buy,underwrite or otherwise acquire, any rights, shares or other securities, nor thesolicitation of any vote or approval in any jurisdiction, nor shall there be anysale, issue or transfer of shares in the Company in any jurisdiction incontravention of applicable law. The securities referred to herein have not been and will not be registered underthe Securities Act and may not be sold or offered in the United States unlessregistered under the Securities Act or an applicable exemption from suchregistration. This information is provided by RNS The company news service from the London Stock Exchange