Business
Result of Rump Placing
Result of Rump Placing.
About this update from Chemring Group Plc
[{"type":"text","content":"\n \nRNS Number : 9879P Chemring Group PLC 24 February 2016 \n\n \nNOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN AND THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT \n \n \n24 February 2016\n \nChemring Group PLC (\"Chemring\" or the \"Company\")\nResults of Rump placing\nFollowing the announcement yesterday regarding valid acceptances received under the Rights Issue announced by Chemring on 21 January 2016, Chemring is pleased to announce that Investec Bank plc (\"Investec\") and JP Morgan Securities plc (\"JP Morgan Cazenove\") have today procured subscribers for the remaining 3,622,547 new ordinary shares of 1 pence each in the capital of the Company (each a \"New Ordinary Share\"), for which valid acceptances were not received by 11.00 a.m. on 23 February, at a price of 123.50 pence per New Ordinary Share.\nAny premium over the total of the Rights Issue offer price of 94 pence per New Ordinary Share and the related expenses of procuring subscribers (including any applicable commissions and amounts in respect of VAT which, in the reasonable opinion of the Joint Bookrunners, are not recoverable) will be paid to Qualifying Shareholders that have not taken up their entitlements pro rata to their lapsed provisional allotments, except that, in accordance with the terms and conditions of the Rights Issue, individual amounts of less than £5.00 will not be paid to such persons but will be aggregated and retained for the benefit of the Company. Cheques and credits to CREST accounts in respect of any amounts payable to Qualifying Shareholders are expected to be despatched by no later than 8 March 2016.\nCapitalised terms not defined herein, are defined at Part XI of the combined prospectus and circular published by the Company on 21 January 2016.\n \nEnquiries:\n \n\n\n\n\nChemring Group PLC\n\n\n\n\n\n\n\nMichael Flowers\n\n\nGroup Chief Executive\n\n\n+44 (0)1794 833 901\n\n\n\n\nSteve Bowers\n\n\nGroup Finance Director\n\n\n\n\n\n\n\nRupert Pittman\n\n\nGroup Director of Corporate Affairs\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nMHP Communications\n\n\n\n\n\n\n\nAndrew Jaques\n\...