UAI.L Regulatory News (UAI)

15 Jul 2009 08:15



On 24 June 2009, the Board of Development Securities announced the pricing details of a fully underwritten share issue to raise proceeds of approximately £100.0 million by way of a Firm Placing and Placing and Open Offer. 

Further to its announcements on 10 July 2009 regarding the results of the Firm Placing and Placing and Open Offer and the Extraordinary General Meeting, the Board of Development Securities is pleased to announce that at 8.00 a.m. today 41,653,260 New Shares were allotted and admitted to the Official List and to trading on the main market of the London Stock Exchange. New Shares in uncertificated form are expected to be credited to CREST accounts by close of business today and definitive share certificates for New Shares in certificated form are expected to be despatched to shareholders by 22 July 2009.

The New Shares with ISIN GB00B61GM796 rank pari passu in all respects with the Existing Shares including the right to receive all dividends and other distributions (if any) declared, paid or made by Development Securities after 24 June 2009 being the date of the Prospectus, save for the final dividend declared for the 2008 financial year which has now been paid, and for any interim dividend that may or may not be declared when the interim results for the first six months of the 2009 financial year are announced.

As at today's date, Development Securities has in issue 82,256,474 Ordinary Shares, each carrying the right to one vote per share. There are no shares held in treasury.

The total voting rights figure of 82,256,474 may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, Development Securities under the FSA's Disclosure and Transparency Rules.

For further information, please contact:

Disclaimer

Collins Stewart is authorised and regulated by the Financial Services Authority in the UK and is acting for Development Securities and no one else in connection with the Firm Placing and Placing and Open Offer and will not be responsible to anyone other than Development Securities for providing the protections afforded to clients of Collins Stewart or for providing advice in relation to the Firm Placing and Placing and Open Offer or any other matters referred to in this announcement.

Apart from the responsibilities and liabilities, if any, which may be imposed on Collins Stewart by the FSMA, Collins Stewart accepts no responsibility whatsoever and makes no representation or warranty, express or implied, for the contents of this announcement, including its accuracy, fairness, sufficiency, completeness or verification or for any other statement made or purported to be made by it, or on its behalf, in connection with Development Securities or the New Shares or the Firm Placing and Placing and Open Offer and nothing in this announcement is, or shall be relied upon as, a promise or representation in this respect, whether as to the past or future. Collins Stewart accordingly disclaims to the fullest extent permitted by law all and any responsibility and liability whether arising in tort, contract or otherwise (save as referred to above) which it might otherwise have in respect of this announcement or any such statement. Collins Stewart and/or its affiliates provide various investment banking, commercial banking and financial advisory services from time to time to Development Securities.

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, Canada, Australia, Japan, South Africa or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. The New Shares have not been and will not be registered under the securities laws of such jurisdictions and may not be offered, sold, taken up, exercised, resold, renounced, transferred or delivered, directly or indirectly, within such jurisdictions except pursuant to an exemption from and in compliance with any applicable securities laws.

No action has been taken by Development Securities that would permit an offer of the New Shares or possession or distribution of this announcement, the Prospectus or any other offering or publicity material or the Application Forms in any jurisdiction where action for that purpose is required, other than in the United Kingdom.

The distribution of this announcement, the Prospectus and/or the transfer or offering of New Shares into jurisdictions other than the United Kingdom is or may be restricted by law. Persons into whose possession this announcement or any such document comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. 

This announcement is for information purposes only and does not constitute or form part of any offer to issue or sell, or the solicitation of an offer to acquire, purchase or subscribe for, any securities in any jurisdiction and should not be relied upon in connection with any decision to subscribe for or acquire any of the New Shares. In particular, this announcement does not constitute or form part of any offer to issue or sell, or the solicitation of an offer to acquire, purchase or subscribe for, any securities in the United States, Canada, Australia, Japan or South Africa.

This announcement and the information contained herein does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. This announcement and the information contained herein is not for distribution in or into the United States. The New Shares have not been, and will not be, registered under the US Securities Act of 1933 (the "US Securities Act") or with any securities regulatory authority of any State or other jurisdiction. The New Shares may not be offered, sold, taken up, exercised, resold, renounced, transferred or delivered in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act. There will be no public offer of the New Shares in the United States.

The information in this press release may not be forwarded or distributed to any other person and may not be reproduced in any matter whatsoever. Any forwarding, distribution, reproduction, or disclosure of this information in whole or in part is unauthorised. Failure to comply with this directive may result in a violation of the US Securities Act or the applicable laws of other jurisdictions.

Neither the content of the Company's website (or any other website) nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.