Business
Results of Placing Announcement
Results of Placing Announcement.
About this update from Lancashire Holdings Limited
[{"type":"text","content":"\n \nRNS Number : 1687L Lancashire Holdings Limited 07 August 2013 \n \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.\nTHIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.\n \n7 August 2013\n \nRESULTS OF PLACING\nLancashire Holdings Limited (the \"Company\" or \"Lancashire\") is pleased to announce the successful completion of the placing of common shares announced earlier today (the \"Placing\").\nA total of 16,843,382 new common shares in Lancashire (the \"Placing Shares\") have been placed by J.P. Morgan Securities plc (\"J.P. Morgan Cazenove\") and Numis Securities Limited (\"Numis\" and, together with J.P. Morgan Cazenove, the \"Bookrunners\") at a price of 780 pence per Placing Share, raising total gross proceeds of approximately £131 million for the Company. The Placing Shares being issued represent approximately 9.99 per cent of the issued common share capital of Lancashire prior to the Placing.\nThe Placing Shares will, when issued, be issued credited as fully paid and will rank pari passu in all respects with the existing common shares of U.S.$0.50 in the capital of Lancashire, including the right to receive all dividends and other distributions declared after the date of the issue.\nApplications have been made for the Placing Shares to be admitted to the premium listing segment of the Official List of the Financial Conduct Authority and to be admitted to trading by the London Stock Exchange (\"LSE\") on its main market for listed securities (together, the \"Admission\"). It is expected that Admission will take place at 8.00 a.m. on 12 August 2013 (at which time the Placing will become unconditional) and that dealings in the Placing Shares on the LSE's main market for listed securities will commence at the same time.\n \nFor further information, please contact:\nLancashire Holdings Limited\nJonny Creagh-Coen +44 (0) 20 7264 4066\nChristophe...