RNS Number : 8294Z
Energy Assets Group Plc
22 March 2012
Not for release, distribution or publication, directly or indirectly, into or in the United States, Australia, Canada or Japan.
For immediate release 22 March 2012
Energy Assets Group plc
("Energy Assets" or the "Group")
First Day of Dealings
Energy Assets, the largest independent provider of gas metering and related services to the UK Industrial and Commercial ("I&C") market(1) , is pleased to announce that Admission is expected to take place and unconditional dealings in its Ordinary Shares are expected to commence at 8.00am today on the Main Market for listed securities of the London Stock Exchange. Following Admission, dealings will commence under the TIDM identifier EAS, ISIN (International Securities Identifying Number) GB00B78CNY10 and SEDOL (Stock Exchange Daily Official List) number B78CNY1.
Energy Assets will have a total of 27,142,857 Ordinary Shares of 1p each in issue immediately following Admission. At the offer price of GBP2.10 per Ordinary Share, the market capitalisation of the Group at Admission will be approximately GBP57 million.
Commenting on the flotation, Philip Bellamy-Lee, Chief Executive said:
"We are delighted to be starting life as a public company today and we want to welcome all new shareholders to the Company. Net new monies raised of approximately GBP11.9m will provide funds to enable us to expand the Group's business in line with our current growth plans and to strengthen the Group's balance sheet. "
For further information, please contact:
Richard Darby 020 7466 5000
Diane Stewart 0131 226 6150
Collins Stewart Europe Limited (Sole Sponsor
and Joint Bookrunner)
Adam Miller 020 7523 8350
Macquarie Capital Europe Limited (Joint Bookrunner) 020 3037 2000
Notes to Editors:
Energy Assets provides gas metering and related services in the I&C segment of the UK gas market and is the largest independent provider of I&C gas metering services in the UK (by number of meters under management). The Group offers gas suppliers and end-user consumers of gas a broad spectrum of metering services, from the provision and management of new and replacement meters through its MAM Services division to the procurement and project management of related gas infrastructure works and the collection and provision of gas consumption data through the Group's Siteworks and AMR Services divisions.
(1) By number of meters under management.
This announcement is an advertisement and not a prospectus and investors should not subscribe for or purchase any shares referred to in this announcement except on the basis of information in the prospectus published by the Company in connection with the admission of the shares in the capital of the Company to the Official List of the Financial Services Authority and to trading on the London Stock Exchange plc's main market for listed securities (the "Prospectus").
Copies of the Prospectus are available from the Company's registered office and are available for viewing at the National Storage Mechanism at http://www.hemscott.com/nsm.do This announcement does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any shares in the Company or securities in any other entity, in any jurisdiction, including the United States, nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or investment decision whatsoever, in any jurisdiction. This announcement does not constitute a recommendation regarding any securities.
Restrictions on distribution
This communication is only addressed to, and directed at, persons in member states of the European Economic Area who are "qualified investors" within the meaning of Article 2(1)(e) of the Prospectus Directive ("Qualified Investors"). For the purposes of this provision, the expression "Prospectus Directive" means Directive 2003/71/EC and includes any relevant implementing measure in each member state of the European Economic Area which has implemented the Prospectus Directive. In addition, in the United Kingdom, this communication is being distributed only to, and is directed only at, Qualified Investors (i) who have professional experience in matters relating to investments who fall within the definition of "investment professional" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), or (ii) who are high net worth companies, unincorporated associations and partnerships and trustees of high value trusts as described in Article 49(2) of the Order, and (iii) other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons"). Any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. This communication must not be acted on or relied on(i) in the United Kingdom, by persons who are not relevant persons and (ii) in any member state of the European Economic Area other than the United Kingdom, by persons who are not Qualified Investors.
This announcement is not an offer to sell or a solicitation of any offer to buy the shares of the Company (such shares being the "Securities") in the United States, Australia, Canada, Japan or in any other jurisdiction where such offer or sale would be unlawful.
The Securities have not been and will not be registered under the US Securities Act of 1933 (the "Securities Act"), or with any securities regulatory authority of any State or other jurisdiction of the United States. Consequently, the Securities may not be offered, sold, resold, transferred, delivered or distributed, directly or indirectly, into or within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any State or other jurisdiction of the United States. No public offering of the Securities is being made in the United States.
Some of the information contained in this announcement may constitute forward looking statements that are subject to various risks and uncertainties. No warranty or representation is given by any person as to the accuracy, completeness, likelihood of achievement or reasonableness of any forecasts, projections or forward-looking statements contained in the document. Statements or assumptions in this announcement as to future matters may prove to be incorrect. Circumstances may change and the contents of this announcement may become outdated as a result.
Save as required by law, or by the Listing Rules, Prospectus Rules or Disclosure and Transparency Rules, none of the Company, Collins Stewart and Macquarie Capital undertake any obligation to release publicly the results of any revisions to any forward-looking statements in this announcement that may occur due to any change in the Directors' expectations or to reflect events or circumstances after the date of this announcement.
This announcement has been prepared by the Company and is the sole responsibility of the Company. No liability whatsoever (whether in negligence or otherwise) arising directly or indirectly from the use of this announcement is accepted and no representation, warranty or undertaking, express or implied, is or will be made by Collins Stewart or Macquarie Capital or any of their respective directors, officers, employees, advisers, representatives or other agents for any information or any of the opinions contained herein or for any errors, omissions or misstatements. None of Collins Stewart, Macquarie Capital nor any of their respective directors, officers, employees, advisers, representatives or other agents makes or has been authorised to make any representations or warranties (express or implied) in relation to the Company or as to the truth, accuracy or completeness of this announcement, or any other written or oral statement provided. In particular, no representation or warranty is given as to the achievement or reasonableness of, and no reliance should be placed on any projections, targets, estimates or forecasts contained in this announcement and nothing in this announcement is or should be relied on as a promise or representation as to the future. Nor is any representation or warranty given as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from this announcement) or any other information relating to the Company, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith.
Collins Stewart and Macquarie Capital, which are authorised and regulated in the United Kingdom by the Financial Services Authority, are acting as Sponsor and Joint Bookrunner and Joint Bookrunner respectively for the Company and no-one else in connection with the offering of securities by the Company and will not be responsible to anyone other than the Company for providing the protections afforded to customers of Collins Stewart and Macquarie Capital or for providing advice in relation to the offering of securities by the Company.
The information contained in this announcement is given as at the date of its publication (unless otherwise marked) and is subject to updating, revision and amendment. In particular, the proposals referred to herein are tentative and are subject to verification, material updating, revision and amendment. No reliance may be placed for any purpose whatsoever on the information or opinions contained in this announcement or on its completeness, accuracy or fairness. This announcement has not been approved by any competent regulatory authority.
In connection with the Offering, Macquarie Capital (the "Stabilising Manager") (or persons acting on behalf of the Stabilising Manager) may over-allot shares or effect transactions with a view to supporting the market price of the shares at a level higher than that which might otherwise prevail. However, there is no assurance that the Stabilising Manager (or persons acting on behalf of the Stabilising Manager) will undertake stabilisation action. Any stabilisation action may begin on or after the date on which adequate public disclosure of the final price of the shares is made and, if begun, may be ended at any time, but it must end no later than 30 days after the date of public disclosure of the final price.
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