Business
Result of Rump Placing
Result of Rump Placing.
About this update from Workspace Group Plc
[{"type":"text","content":"\n \nRNS Number : 1634L Workspace Group PLC 27 July 2011 \n \n\nTHE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN AND THE REPUBLIC OF SOUTH AFRICA AND SHOULD NOT BE DISTRIBUTED IN, FORWARDED TO OR TRANSMITTED IN OR INTO ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF LOCAL SECURITIES LAWS OR REGULATIONS OF SUCH JURISDICTION. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\n27 July 2011\nWorkspace Group PLC\nResult of Rump Placing\nFollowing the announcement by Workspace Group PLC (\"Workspace\", or the \"Company\") earlier today regarding valid acceptances under the fully underwritten 1 for 4 Rights Issue announced on 7 July 2011, Workspace now announces that Espirito Santo Investment Bank (\"BESI\") and Investec have procured subscribers in respect of the 6,435,254 remaining New Ordinary Shares for which valid acceptances were not received, at a price of 28 pence per New Ordinary Share.\nAccordingly, the Joint Underwriters and sub-underwriters will not be required to acquire any New Ordinary Shares.\nThe net proceeds from the sale of these shares, after deduction of the Rights Issue Price of 23 pence per New Ordinary Share and the expenses of procuring such subscribers (including any applicable brokerage and commissions and amounts in respect of VAT which are not recoverable), will be paid (without interest) to Shareholders that have not taken up their entitlements pro rata to their lapsed provisional allotments, save that no payment will be made of amounts less of than £3.00, which amounts will be aggregated and will ultimately accrue to the benefit of the Company.\nFor full details, please refer to the prospectus, which is available from the Company's website at www.workspacegroupplc.co.uk, provided that the prospectus is not available to Excluded Overseas Shareholders. \nDefinitions used in this announcement shall have the same meaning as set out in the prospectus issued by the Company on 7 July 2011.\n \nFor further information, please contact: \n \n\n\n\n\nWorkspace Group PLC\n\n\nTel: +44 (0)20 7369 2273\n\n\n\n\nHarry Platt, Chief Executive\nGraham Clemett, Finance Director\n\n\n\n\n\n\n\n\n\n\n\n\n\n...