Business
Sale of Rights Issue Rump
Sale of Rights Issue Rump.
About this update from Grainger Plc
[{"type":"text","content":"\n RNS Number : 2217E Grainger PLC 16 December 2009 \n \n\nTHE INFORMATION CONTAINED HEREIN IS RESTRICTED AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n\nThis announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale or purchase of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The availability of the New Shares to persons not resident in the United Kingdom may be affected by the laws of the relevant jurisdictions. Such persons should inform themselves about and observe any applicable requirements. This announcement is an advertisement and does not constitute a prospectus. Any decision to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any New Shares must be made only on the basis of the information contained in and incorporated by reference into the Prospectus. \n\n\n16 December 2009\n\nFor Immediate Release\n\nGrainger plc (\"Grainger\")\n\nSale of Rights Issue Rump\n\nEarlier today, Grainger announced that it had received valid acceptances in respect of 277,553,406 New Shares, representing approximately 92.69 per cent. of the total number of New Shares offered to Shareholders pursuant to the 2 for 1 Rights Issue announced by Grainger on 5 November 2009.\n\nGrainger confirms that, in accordance with the arrangements set out in Part 3 of the Prospectus dated 6 November 2009, J.P. Morgan Cazenove Limited, acting as Global Co-ordinator, has today procured acquirers for the remaining 20,297,204 New Shares, for which valid acceptances were not received, at a price of £1.25 per New Share.\n\nThe net proceeds from the acquisition of these New Shares, after deduction of the Rights Issue price of £0.90 per New Share and the expenses of procuring acquirers (including any applicable brokerage fees and commissions and amounts in respect...