Business
Result of Equity Issue
Result of Equity Issue.
About this update from Workspace Group Plc
[{"type":"text","content":"\n RNS Number : 6531O Workspace Group PLC 11 March 2009 \n \nTHIS ANNOUNCEMENT (THE 'ANNOUNCEMENT') IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.\n\n\n11 March 2009\n\nWorkspace Group PLC\nRESULTS OF RIGHTS ISSUE\nWorkspace Group PLC ('Workspace' or the 'Company') today announces that it has received valid acceptances in respect of 425,962,187 New Ordinary Shares, representing approximately 49 per cent. of the total New Ordinary Shares offered to Qualifying Shareholders (other than certain Overseas Shareholders) pursuant to the 5 for 1 Rights Issue of 871,764,035 New Ordinary Shares at 10 pence per New Ordinary Share announced on 27 January 2009, which closed for acceptance at 11.00 a.m. on 10 March 2009.\nAcceptances received included valid acceptances over, in aggregate, 6,487,505 New Ordinary Shares from directors of the Company. The Chairman, Mr Hales and the non-executive directors Messrs Cragg, Bywater and Dickinson took up their rights in full. Of the executive directors, Mr Clemett has taken up his rights in full, Mr Platt and Mr Marples have taken up their rights to 2,178,250 and 452,500 New Ordinary Shares under the Rights Issue respectively, representing 90% and 53% of their entitlement. In addition to taking up his entitlement, Mr Hales acquired 2,000,000 nil paid rights in the market, and has subsequently taken up these rights. \nThe remaining 445,801,848 New Ordinary Shares, none of which have been sold at a premium to the Issue Price, will be taken up at the issue price of 10 pence per share by the sub-underwriters, being existing shareholders and institutional investors.\n\nIt is expected that the New Ordinary Shares in uncertificated form will be credited to CREST accounts on 11 March 2009 and that share certificates in respect of New Ordinary Shares in certificated form will be dispatched to shareholders by 13 March 2009.\n\nTony Hales, Chairman of the Company, commented, ...