Business
Result of Rights Issue
Result of Rights Issue.
About this update from Land Securities Group Plc
[{"type":"text","content":"\n RNS Number : 4198P Land Securities Group Plc 25 March 2009 \n25 March 2009\n\nLAND SECURITIES GROUP PLC (the 'Company')\n\nRESULT OF RIGHTS ISSUE\n\nTHE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM 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\nLand Securities Group PLC today announces that, as at 11.00 a.m. on 24 March 2009, being the latest date of receipt of valid subscriptions, it had received valid acceptances in respect of 275,679,724 New Ordinary Shares, representing approximately 94.81 per cent of the total number of New Ordinary Shares offered to Shareholders, pursuant to the 5 for 8 Rights Issue announced by the Company on 19 February 2009. \n \nIt is expected that the New Ordinary Shares in uncertificated form will be credited to CREST accounts on 25 March 2009 and that definitive share certificates in respect of New Ordinary Shares in certificated form will be dispatched to Shareholders by no later than 1 April 2009. It is expected that the New Ordinary Shares will commence trading fully paid on London Stock Exchange plc's main market for listed securities on 25 March 2009.\n\nAs disclosed in part VI of the Prospectus dated 19 February 2009, Citigroup Global Markets U.K. Equity Limited, J.P. Morgan Cazenove Limited and UBS Limited, as Joint Bookrunners, will use their reasonable endeavours to procure subscribers for the balance of 15,094,201 New Ordinary Shares not validly taken up under the Rights Issue, subject to certain terms and conditions agreed with the Company. A further announcement as to the number of New Ordinary Shares for which subscribers have been procured by the Joint Bookrunners will be made in due course.\n\nDefined terms used in this announcement shall have the same meanings as in the Prospectus relating to the Rights Issue dated 19 February 2009, unless the context requires otherwise. \n\n- Ends -\n\nContacts:\n \n\n\n\n\n\nCorporate Communication\n\n\nInvestor Relations\n\n\n\n\nDonal McC...