Business
Results of firm placing and p
Results of firm placing and p.
About this update from Norcros Plc
[{"type":"text","content":"\n RNS Number : 3674D Norcros PLC 01 December 2009 \n \nTHIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR THEIR RESPECTIVE TERRITORIES AND SHOULD NOT BE DISTRIBUTED IN, FORWARDED OR TRANSMITTED INTO ANY JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF LOCAL APPLICABLE SECURITIES LAWS OR REGULATIONS. NOTHING IN THIS ANNOUNCEMENT IS AN OFFER, OR PART OF AN OFFER, FOR SALE OF ANY SECURITIES REFERENCED HEREIN. \n\nTerms defined in the Prospectus shall have the same meaning in this announcement unless the context otherwise requires. This announcement should be read in conjunction with the full text of the Prospectus. \n\nNorcros plc\n \n(\"Norcros\" or \"the \"Group\")\n\nResults of firm placing and placing and open offer\n\nOn 12 November 2009, Norcros plc (\"Norcros\" or \"the Company\") announced a Capital Raising to raise gross proceeds of approximately £30 million (approximately £27.7 million net of expenses), by the issue of 428,571,428 New Ordinary Shares, through the Firm Placing of 285,766,932 New Ordinary Shares and the Placing and Open Offer of 142,804,496 New Ordinary Shares, at the Issue Price of 7 pence.\n\nThe Open Offer has now closed in accordance with its terms. Norcros is pleased to announce that it has received valid acceptances under the Open Offer in respect of 60,932,654 Open Offer Shares from Qualifying Shareholders in addition to the 42,720,000 Open Offer Shares which Lifestyle Investments, irrevocably undertook to take up under the Open Offer. The total number of 103,652,654 Open Offer Shares represents a take-up of approximately 72.6 per cent. of the Open Offer Shares. As a consequence, 39,151,842 shares were available for subscription under the Excess Application Facility. Valid applications under the Excess Application Facility have been received in respect of 22,105,638 excess shares representing approximately 15.5 per cent. of the Open Offer Shares. Including applications under the Excess Application Facility, the total take up was therefore approximately 88.1% of the Open Offer Shares.\n\nAccordingl...