Flowgroup plc Result of Open Offer (3939N)
May 18 2015 - 1:00AM
UK Regulatory
TIDMFLOW
RNS Number : 3939N
Flowgroup plc
18 May 2015
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF
AMERICA, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR
ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.
PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS
ANNOUNCEMENT
THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR THE SOLICITATION OF
AN OFFER TO BUY ANY RIGHTS, ORDINARY SHARES OR OTHER SECURITIES OF
THE COMPANY AND NEITHER THIS ANNOUNCEMENT NOR ANYTHING HEREIN FORMS
THE BASIS FOR ANY CONTRACT OR COMMITMENT WHATSOEVER. RIGHTS,
ORDINARY SHARES OR OTHER SECURITIES OF THE COMPANY MAY NOT BE
OFFERED OR SOLD IN THE UNITED STATES OF AMERICA ABSENT REGISTRATION
OR AN EXEMPTION FROM REGISTRATION AND THE RIGHTS OR ORDINARY SHARES
DESCRIBED HEREIN WILL BE SOLD IN ACCORDANCE WITH ALL APPLICABLE
LAWS AND REGULATIONS.
18 May 2015
Flowgroup PLC
("Flowgroup" or the "Company")
Result of Open Offer
On 30 April 2015, Flowgroup plc (AIM: FLOW), which develops and
commercialises alternative and efficient energy technology
products, announced a conditional Firm Placing to raise
approximately GBP21.0m and an Open Offer to raise up to
approximately GBP2.0m, both before expenses.
The Open Offer closed for acceptances at 11.00 a.m. on 15 May
2015 and the Company is pleased to announce that it has received
valid acceptances in respect of 4,352,390 Open Offer Shares from
Qualifying Shareholders which includes applications for 1,843,147
Open Offer Shares under the Excess Application Facility. This
represents 62.0 per cent. of the Open Offer Shares offered. The
Company has therefore raised a total of GBP22.2 million, before
expenses, from the Firm Placing and Open Offer.
The new ordinary shares to be issued pursuant to the Firm
Placing and Open Offer remain subject to the passing of the
Resolutions at the General Meeting to be held at 10:30 a.m. today
at Third Floor, Castlefield House, Liverpool Road, Castlefield,
Manchester, M3 4SB.
Capitalised terms in this announcement have the meanings given
to them in the Circular dated 30 April 2015 ("Circular").
For further information, please contact:
Flowgroup plc www.flowgroup.uk.com
Tony Stiff, Group Chief Executive Tel: +44 (0)20
Officer 3137 4525
Nigel Canham, Chief Financial
Officer
Investec Bank plc (NOMAD, joint Tel: +44 (0)20
Financial Adviser and joint Broker) 7597 4000
Christopher Baird / Daniel Adams
/ Ben Williams
Cenkos Securities plc (joint Financial Tel: +44 (0)20
Adviser and joint Broker) 7397 8900
Stephen Keys / Christopher Golden
(Corporate Finance)
Julian Morse (Sales)
Walbrook PR Ltd Tel: +44 (0) 20 7933 8780
or flowgroup@walbrookpr.com
Paul McManus (Media Relations) Mob: 07980 541
893
This announcement does not constitute an offer to sell or an
invitation to subscribe for, or solicitation of an offer to
subscribe for or buy New Ordinary Shares to any person in any
jurisdiction to whom it is unlawful to make such offer or
solicitation. In particular, this announcement must not be taken,
transmitted, distributed or sent, directly or indirectly, in, or
into, the United States of America, Canada, Australia, Japan or the
Republic of South Africa or transmitted, distributed or sent to, or
by, any national, resident or citizen of such countries.
Accordingly, the New Ordinary Shares may not, subject to certain
exceptions, be offered or sold, directly or indirectly, in, or
into, the United States of America, Canada, Australia, Japan or the
Republic of South Africa or in any other country, territory or
possession where to do so may contravene local securities laws or
regulations. The New Ordinary Shares have not been, and will not
be, registered under the United States Securities Act of 1933 (as
amended) or under the securities legislation of any state of the
United States of America, any province or territory of Canada,
Australia, Japan or the Republic of South Africa and they may not
be offered or sold, directly or indirectly, within the United
States of America or Canada, Australia, Japan or the Republic of
South Africa or to or for the account or benefit of any national,
citizen or resident of the United States of America, Canada, Japan
or the Republic of South Africa or to any US person (within the
definition of Regulation S made under the US Securities Act 1933
(as amended)).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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