Business
Result of Placing
Result of Placing.
About this update from Aura Renewable Acquisitions Plc
[{"type":"text","content":"\n Ardana PLC\n12 October 2006\n\n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR\n FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN\n\n\n\n Ardana plc\n\n Result of Placing and Open Offer\n\n\nEdinburgh, UK, 12 October 2006 - Ardana plc (LSE: ARA) ('Ardana' or the \n'Company') has announced that by 11.00 a.m. on 11 October 2006, being the latest\ntime for receipt of application forms and payment in full under the Open Offer\nannounced on 20 September 2006, valid applications had been received from\nQualifying Shareholders in respect of 1,595,931 New Ordinary Shares,\nrepresenting 16.65 per cent. of the 9,585,380 New Ordinary Shares available\nunder the Open Offer. This amount includes 44,573 New Ordinary Shares the\nsubject of irrevocable commitments to accept the Open Offer entered into by Dr\nMaureen Lindsay, Graham Lee, Dr John Brown and Carol Ferguson, all Directors of\nthe Company.\n\n\nA further 5,493,362 New Ordinary Shares which certain Qualifying Shareholders\nhad irrevocably undertaken not to take up under the terms of the Open Offer were\nconditionally placed firm by Piper Jaffray. Accordingly, a total of 7,089,293\nNew Ordinary Shares (being 73.96 per cent. of the New Ordinary Shares available\nunder the Placing and Open Offer) were either placed firm by Piper Jaffray or\nwere the subject of valid applications from Qualifying Shareholders.\n\n\nTherefore the balance of 2,496,087 New Ordinary Shares not applied for by\nQualifying Shareholders under the Open Offer or placed firm by Piper Jaffray\nwill be taken up by institutional investors under the Placing pursuant to the\nPlacing Agreement.\n\n\nThe New Ordinary Shares to be issued pursuant to the Placing and Open Offer will\nrank pari passu with the existing Ordinary Shares in all respects.\n\n\nThe Placing and Open Offer remains conditional upon, inter alia, the passing of\nthe resolutions at the EGM today at noon and admission of the New Ordinary\nShares to the Official List and to trading on the London Stock Exchange's market\nfor listed securities. Application has been made to the FSA for the New\nOrdinary Shares to be admitted to the Official List and to be admitted to\ntrading on the London Stock Exchange's markets for listed securities. It is\nexpected that Admission will become effective and dealings in the New Ordinary\nShar...