Business
Completion of Rights Issue an
Completion of Rights Issue an.
About this update from Speedy Hire Plc
[{"type":"text","content":"\n RNS Number : 4887V Speedy Hire PLC 10 July 2009 \n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.\n\nSpeedy Hire Plc\n\n10 July 2009\n\nSuccessful completion of Rights Issue and placing of rump\n\nSpeedy Hire Plc ('Speedy Hire' or 'the Company') announced previously that, as at 11.00am on 9 July 2009, being the latest time and date for acceptance and payment, it had received valid acceptances in respect of 423,657,562 New Ordinary Shares, representing approximately 92.37% of the total number of New Ordinary Shares offered to Shareholders, pursuant to the Rights Issue announced by the Company on 28 May 2009. \n \nSpeedy Hire confirms that, in accordance with the arrangements set out in Part III of the combined circular and prospectus published by the Company in connection with the Rights Issue and sent to shareholders on 1 June 2009 (the 'Prospectus'), Oriel Securities and KBC Peel Hunt have procured subscribers for the 35,001,338 remaining New Ordinary Shares, for which valid acceptances were not received, at a price of 24.5 pence per share. \n \nThe net proceeds from the sale of such New Ordinary Shares, after deduction of the Issue Price of 23 pence per new Ordinary Share and relevant costs (including any applicable brokerage and commissions and amounts in respect of VAT which are not recoverable), will be paid to those Qualifying Shareholders whose rights have lapsed in accordance with the terms of the Rights Issue, pro rata to their lapsed provisional allotments, save that individual amounts of less than £5.00 and fractions of a pence will not be so paid but will be retained for the Company's own benefit. \n\nUnless otherwise defined in this announcement, capitalised terms shall have the meaning given to them in the Prospectus.\n\nContacts\nFor further information please contact:\n\n\n\n\n\n\nSpeedy Hire Plc\n\n\nTel: +44(0) 1942 720 000\n\n\n\n\nSteven Corcoran, Chief Executive\n\n\n\n\n\n\n\nJustin Read, Group Finance Director\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nHudson Sandler\nNick Lyon / Wendy Baker\n\n\nTel: +44(0) 207 796 4133\n\n\n\...