| Thu 5 May 2011, 14:10 | | CCO - Capital & Counties Properties Plc - Results of Placing |
|
JSE CCO
CCO
CCO - Capital & Counties Properties Plc - Results of Placing
Capital & Counties Properties PLC
(Incorporated and registered in the United Kingdom and Wales with
registration Number 07145041 and registered in South Africa as an external
company with Registration Number 2010/003387/10)
JSE code: CCO
ISIN: GB00B62G9D36
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA OR JAPAN
Capital & Counties Properties PLC
Results of Placing
5 May 2011
Capital & Counties Properties PLC ("Capco" or the "Company") is pleased to
announce the successful completion of the placing announced earlier today
(the "Placing").
A total of 62,100,000 new ordinary shares of 25 pence each in Capco (the
"Placing Shares") have been placed by UBS Limited, raising gross proceeds of
approximately GBP100.6 million. Sterling Placing Shares have been issued at
a price of 162 pence per Placing Share and Rand Placing Shares at a price of
17.96 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 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 (excluding the 2010 final dividend).
Application will be made for admission of the Placing Shares to the Official
List of the Financial
Services 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. 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 10 May 2011.
The Placing is conditional, inter alia, upon UK Admission becoming
effective. It is anticipated that the settlement date will be 10 May 2011.
Capitalised terms used but not defined in this announcement have the same
meanings as set out in the placing announcement of the Company released at
7.00 a.m. on the date hereof.
Commenting on the Placing, Ian Hawksworth, Chief Executive, said:
"We are delighted to have received such a positive response from investors.
During the past year we have established ourselves as a central London
focused property company and have made significant progress in repositioning
our Covent Garden estate to create a contemporary luxury destination. The
new money raised from the Placing will accelerate our progress at Covent
Garden and we expect acquisitions and projects at Covent Garden funded by
the Placing to be accretive to both ERV and net asset value per share over
time."
UBS Limited acted as sole bookrunner and underwriter in respect of the
Placing.
For further information please contact:
Capital & Counties Properties PLC
Ian Hawksworth Chief Executive +44 (0)20 3214 9188
Soumen Das Finance Director +44 (0)20 3214 9183
Rothschild +44 (0)20 7280 5000
Alex Midgen
Duncan Wilmer
UBS Limited +44 (0)20 7567 8000
Hew Glyn Davies
Jonathan Bewes
Fergus Horrobin
Christopher Smith
UBS South Africa (Proprietary) Limited +27 11 322 7000
Martin Nel
Hudson Sandler
Michael Sandler / Wendy Baker +44 (0)20 7796 4133
College Hill
Nicholas Williams +27 (0)11 447 3030
IMPORTANT NOTICE
This announcement includes statements that are, or may be deemed to be,
"forward-looking statements", including within the meaning of Section 27A of
the Securities Act and Section 21E of the US Exchange Act of 1934. These
forward-looking statements can be identified by the use of a date in the
future or forward-looking terminology, including, but not limited to, the
terms "may", "believes", "estimates", "plans", "aims", "targets",
"projects", "anticipates", "expects", "intends", "may", "will", "could" or
"should" or, in each case, their negative or other variations or comparable
terminology. These forward-looking statements include matters that are not
historical facts and include statements regarding Capco`s intentions,
beliefs or current expectations. By their nature, forward-looking statements
involve risk and uncertainty because they relate to future events and
circumstances. A number of factors could cause actual results and
developments to differ materially from those expressed or implied by the
forward-looking statements. Any forward-looking statements in this
announcement reflect Capco`s view with respect to future events as at the
date of this announcement and are subject to risks relating to future events
and other risks, uncertainties and assumptions relating to Capco`s
operations, results of operations, financial condition, growth, strategy,
liquidity and the industry in which Capco operates. No assurances can be
given that the forward-looking statements in this announcement will be
realised. Capco undertakes no obligation and does not intend to revise or
update any forward-looking statements in this announcement to reflect events
or circumstances after the date of this announcement.
Neither the content of the Company`s website nor any website accessible by
hyperlinks to the Company`s website is incorporated in, or forms part of,
this announcement. This announcement is for information purposes only and
shall not constitute an offer to buy, sell, issue, or acquire, or the
solicitation of an offer to buy, sell, issue, or acquire any securities in
any jurisdiction, nor shall there be any sale of securities in any
jurisdiction, in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
jurisdiction. In particular, this announcement does not constitute or form
part of any offer to issue or sell, or the solicitation of an offer to
acquire, purchase or subscribe for, any securities in the United States,
Australia, Canada or Japan.
The securities mentioned herein have not been and will not be registered
under the US Securities Act of 1933, as amended (the "US Securities Act"),
or under any securities laws of any State or other jurisdiction of the
United States and may not be offered, sold, resold, transferred or
delivered, directly or indirectly, within the United States except pursuant
to an applicable exemption from the registration requirements of the US
Securities Act and in compliance with the securities laws of any State or
other jurisdiction of the United States. There will be no public offer of
the securities mentioned herein in the United States. This announcement may
not be released, published or distributed, directly or indirectly, in whole
or in part, in or into the United States.
This announcement has been issued by, and is the sole responsibility of, the
Company. Neither UBS Limited nor any of its affiliates, parent undertakings,
subsidiary undertakings or subsidiaries of its parent undertakings (such
entities together, "UBS") or any of its respective directors, officers,
employees or advisers or any other person accepts any responsibility
whatsoever and makes no representation or warranty, express or implied, for
or in respect of the contents of this announcement and, without prejudice to
the generality of the foregoing, no responsibility or liability is accepted
by any of them for any such information or opinions or for any errors or
omissions.
UBS is acting exclusively for Capco and no one else in connection with the
Placing, UK Admission and SA Admission and will not regard any other person
(whether or not a recipient of this document) as a client in relation to the
Placing, UK Admission and SA Admission and will not be responsible to anyone
other than Capco for providing the protections afforded to its clients or
for providing advice in relation to the Placing, UK Admission, SA Admission
or any transaction, arrangement or other matter referred to in this
announcement.
The Placing Shares will be regarded as approved inward listed instruments
for South African Exchange Control purposes. All South African corporates,
trusts, partnerships and private individuals may participate in the Placing
without restriction. However, South African resident institutional investors
should be aware that the South African Exchange Control Regulations will
apply to their participation in the Placing. The Placing Shares will count
immediately towards South African institutional investors` offshore
allowance. South African resident institutional investors will need to
ensure that they have capacity within their foreign investment portfolios to
acquire the Placing Shares.
The price of shares and the income from them may go down as well as up and
investors may not get back the full amount invested on disposal of the
shares.
Sponsor: UBS South Africa (Pty) Ltd
Date: 05/05/2011 14:10:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
