Business
Offer Price
Offer Price.
About this update from Safestore Holdings Plc
[{"type":"text","content":"\n Safestore Holdings PLC\n09 March 2007\n\n\n\nThis document (and the information contained herein) is not for publication or\ndistribution in or into the United States, Australia, Canada and Japan.\n\n\nThis announcement is an advertisement and not a prospectus and investors should\nnot subscribe for or purchase any shares referred to in this announcement except\non the basis of information in the prospectus to be published by Safestore\nHoldings plc in due course in connection with the admission of the ordinary\nshares in the capital of the Company to the Official List of the Financial\nServices Authority and to trading on London Stock Exchange plc's (the 'London\nStock Exchange') main market for listed securities (the 'Prospectus'). Copies of\nthe Prospectus will, following publication, be available from Safestore Holdings\nplc's registered office.\n\n\n \n\n SAFESTORE HOLDINGS PLC\n\n ('Safestore' or the 'Company')\n\n\n Safestore announces an Offer Price of 240 pence per Ordinary Share\n\n\nSafestore today announces that the offer price for its initial public offering\n(the 'Global Offer') has been set at 240 pence per ordinary share, implying a\nmarket capitalisation of approximately £449 million and an enterprise value of\n£661 million.\n\n\nSafestore is the largest self storage provider in the UK and the central Paris\nregion and the second largest in the EU, in terms of number of stores, providing\nindividual, secure self storage space and related services.\n\n\nThe Global Offer comprises 72,373,192 existing ordinary shares and 14,583,333\nnew ordinary shares (excluding any exercise of the over-allotment arrangement),\nwhich represents in aggregate approximately 46.5% of the Company's issued\nordinary share capital and a total offer size of £208.7 million. The gross\nproceeds of the Global Offer to be received by Safestore from the issue of new\nordinary shares are approximately £35 million.\n\n\nCitigroup Global Markets U.K. Equity Limited and Merrill Lynch International,\nwho are Joint Global Co-ordinators and Joint Bookrunners to Safestore, have been\ngranted an over-allotment option allowing them to purchase or procure purchasers\nfor additional ordinary shares of up to a maxiumum of 13,043,480 existing\nordinary shares, representing 15% of the Shares in the Global Offer.\n\n\nConditional dealings are expected ...