Business
Results of Placing
Results of Placing.
About this update from Shaftesbury Capital Plc
[{"type":"text","content":"\n \nRNS Number : 1267H Capital & Counties Properties Plc 14 May 2014 \n \n\nNOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN\n \n \nCapital & Counties Properties PLC\n \nResults of Placing\n \n14 May 2014\n \nCapital & Counties Properties PLC (\"Capco\" or the \"Company\") is pleased to announce the successful completion of the placing announced earlier today (the \"Placing\").\n \nA total of 75,900,000 new ordinary shares of 25 pence each in Capco (the \"Placing Shares\") have been placed by UBS Limited, BofA Merrill Lynch and Oriel Securities (the \"Joint Bookrunners\"), raising gross proceeds of approximately £258 million. Sterling Placing Shares have been issued at a price of 340 pence per Placing Share and Rand Placing Shares at a price of 59.10 Rand per Placing Share. The Placing Shares being issued represent, in aggregate, approximately 9.99 per cent of Capco's issued ordinary share capital prior to the Placing. The issue price of the Sterling Placing Shares represents a discount of 2.6% to the closing share price on 13 May 2014.\n \nThe Placing Shares will, when issued, be credited as fully paid and rank pari passu with the existing ordinary shares of 25 pence each in the capital of the Company including the right to receive all future dividends and distributions declared, made or paid (including the 2013 final dividend).\n \nApplication will be made for admission of the Placing Shares to the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange's main market for listed securities (\"UK Admission\"). The Company will also apply to the Johannesburg Stock Exchange for the listing of the Placing Shares on the Main Board of the Johannesburg Stock Exchange (\"SA Admission\"). It is expected that the admission and listing of the Placing Shares on the London Stock Exchange and the Johannesburg Stock Exchange will become effective on 21 May 2014.\n \nThe Placing is conditional upon, inter alia, UK Admission becoming effective. The Placing is also conditional upon the placing agreement between the Company and the Joint Bookrunners not being terminated. The Rand Placing is conditional upon South African exchange control approval.\n \nCapitalised terms used but not defined...