Business
Results of placing
Results of placing.
About this update from Helical Plc
[{"type":"text","content":"\n RNS Number : 5919X Helical Bar PLC 08 December 2010 \n \n\n \n8 December 2010\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL\n \nHelical Bar plc (\"Helical\" or the \"Company\")\n \n \nRESULTS OF PLACING\n \n \nHelical Bar is pleased to announce the successful completion of the placing announced earlier today (the \"Placing\").\n \nA total of 10,730,000 new ordinary shares of 1 pence each in Helical (the \"Placing Shares\") have been placed by J.P. Morgan Securities Ltd. (which conducts its UK investment banking activities as J.P. Morgan Cazenove) (\"JPMC\") at a price of 270 pence per Placing Share, raising gross proceeds of approximately £29.0 million. The Placing Shares being issued represent approximately 9.99 per cent. of Helical's issued ordinary share capital prior to the Placing.\n \nThe Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing issued ordinary shares of 1 pence per share in the capital of the Company, including the right to receive all dividends and other distributions declared, made or paid on or in respect of such ordinary shares after the date of issue of the Placing Shares provided that the Placing Shares do not include the right to receive the dividend which was declared by the Company on 25 November 2010 and which is payable on 23 December 2010.\n \nApplication will be made to the Financial Services Authority for admission of the Placing Shares to the premium listing segment of the Official List maintained by the UK Listing Authority and to the London Stock Exchange (the \"LSE\") for admission to trading of the Placing Shares on the LSE's main market for listed securities (together \"Admission\"). It is expected that Admission will take place on 13 December 2010 and that dealings in the Placing Shares on the LSE's main market for listed securities will commence at the same time.\n \nCommenting on the Placing, Mike Slade, Helical's Chief Executive, said:\n \n\"We have been encouraged by the support shown by both existing and new investors. Following our purchase this year of £120 mill...