Results of Open Offer

29 Jul 2005 07:50

Bailey(C.H.) PLC29 July 2005 Result of Open Offer It was announced on 7 July 2005 that CH Bailey Plc was making an Open Offer of4,440,969 Ordinary Shares at 12.6p per share and 389,444 "B" Ordinary Shares at83.25p per share. The Open Offer closed at 3.00 pm on 28 July 2005, by which time the Company hadreceived valid applications under the Initial Offer in respect of 2,728,823Ordinary Shares and 359,971 "B Ordinary Shares. This represents a take up underthe Initial Offer of 61.4 per cent in respect of the Ordinary Shares and 92.4per cent in respect of the "B" Ordinary Shares. In addition, valid applications were received under the Excess Offer for3,432,702 Ordinary Shares and 108,520 "B" Ordinary Shares. It has been necessaryto scale back applications under the Excess Offer, and these will be satisfiedas to approximately 49.9 per cent in respect of applications for Ordinary Sharesand as to approximately 27.2 per cent in respect of applications for "B"Ordinary Shares. As indicated in the circular to shareholders dated 7 July 2005 (the "Circular"),the Directors all subscribed for their maximum individual entitlements under theInitial Offer and Mr C H Bailey also applied for Ordinary Shares and "B"Ordinary Shares under the Excess Offer. Following completion of the Open Offer,the Directors' interests in the share capital of the Company are: Ordinary Shares "B" Ordinary Shares Number Number C H Bailey 1,745,323 170,637Mrs S Bailey 20,228,260 3,099,444TC Bishop 9,123 NilSir W H McAlpine 11,111 Nil In order to satisfy applications under the Open Offer, on 28 July 2005 theCompany transferred out of treasury 4,440,969 Ordinary Shares and 389,444 "B"Ordinary Shares. Following these transfers, the Company did not hold in treasuryany Ordinary shares or "B" Ordinary Shares, and had in issue 44,409,696 OrdinaryShares and 3,894,444 "B" Ordinary Shares. Dealings in the Offer Shares will commence at 8.00 am on 29 July 2005. Further information:Bryan WarrenCH Bailey Plc, Tel: 01633 262961 Richard DayArden Partners Limited, Tel: 020 7398 1632 Note: words and expressions as defined in the Circular shall, unless the contextrequires otherwise, have the same meaning in this announcement. EndJuly 29th, 2005 This information is provided by RNS The company news service from the London Stock Exchange