Business
RESULTS OF PLACING
RESULTS OF PLACING.
About this update from Helical Plc
[{"type":"text","content":"\n RNS Number : 3879M Helical Bar PLC 28 January 2009 \n \n28 January 2009\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL\n\nHelical Bar plc ('Helical' or the 'Company')\n\nRESULTS OF PLACING\n\n\nHelical Bar plc is pleased to announce the successful completion of the placing announced earlier today (the 'Placing').\n\nA total of 9,735,100 new ordinary shares of 1 pence each in Helical (the 'Placing Shares') have been placed by JPMorgan Cazenove Limited at a price of 285 pence per Placing Share, raising gross proceeds of approximately £27.7 million. The Placing Shares being issued represent approximately 9.99 per cent. of Helical's issued ordinary share capital prior to the Placing. \n\nApplication will be made to the Financial Services Authority for admission of the Placing Shares to 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 2 February 2009 and that dealings in the Placing Shares on the LSE's main market for listed securities will commence at the same time.\n\nSuch new shares will rank pari passu with the existing Ordinary Shares of Helical.\n\nCommenting on the Placing, Mike Slade, Helical's Chief Executive, said:\n\n'The successful equity raising of £27.7 million provides us with the extra financial firepower to take even greater advantage of the significant value that is now emerging in the property market. \n\n'We are delighted that, with the backing of existing and new investors, we are extremely well placed to move swiftly in selecting and executing the best deals to create long term value for our shareholders.'\n\nJPMorgan Cazenove acted as sole bookrunner in respect of the Placing.\n\n\nFor further information, please contact:\n\nHelical Bar plc &n...