Business
PROPOSED ?75 MILLION CAPITAL RAISING
PROPOSED ?75 MILLION CAPITAL RAISING.
About this update from Costain Group Plc
[{"type":"text","content":"\n \nRNS Number : 0730B Costain Group PLC 27 February 2014 \n \n\nTHIS ANNOUNCEMENT AND THE INFORMATION HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, OUTSIDE OF THE UNITED KINGDOM, INCLUDING IN OR INTO AUSTRALIA, CANADA, JAPAN, SWITZERLAND, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\nTHIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS AND INVESTORS SHOULD NOT SUBSCRIBE FOR OR PURCHASE ANY SECURITIES REFERRED TO IN THIS ANNOUNCEMENT EXCEPT ON THE BASIS OF INFORMATION TO BE CONTAINED IN THE PROSPECTUS. \nFurther, this announcement is for information purposes only and shall not constitute an offer to sell or issue or the solicitation of an offer to buy, subscribe for or otherwise acquire any new ordinary shares of Costain in any jurisdiction in which any such offer or solicitation would be unlawful.\nThis announcement should be read in its entirety. In particular, you should read and understand the information provided in the 'Important Notice' section.\n27 February 2014\n \nCOSTAIN GROUP PLC\n \nPROPOSED £75 million capital raising BY WAY OF Firm Placing and Placing and Open Offer of 33,382,068 NEW ORDINARY SHARES AT 225 PENCE PER SHARE\n \nCostain Group PLC ('Costain' or the 'Company'), one of the leading tier one engineering solutions providers to the UK infrastructure, energy and water markets, today announces that it proposes to raise gross proceeds of approximately £75.1 million by way of a Firm Placing and Placing and Open Offer of, in aggregate, 33,382,068 New Ordinary Shares at an issue price of 225 pence per New Ordinary Share (the 'Capital Raising').\n \nSUMMARY\n \n− Costain proposes to raise gross proceeds of up to approximately £75.1 million through a Firm Placing and Placing and Open Offer:\n \no £25.0 million to be raised through the Firm Placing; and\n \no £50.1 million to be raised through the Placing and Open Offer.\n \n− Costain is one of the leading tier one engineering solutions providers to the UK infrastructure, energy and water markets. \n \n− &nbs...