Result of the Firm Placing, Placing and Open Offer

 

TIDMSEO 
 
RNS Number : 5207N 
Stanelco PLC 
14 June 2010 
 

                   Stanelco plc ("Stanelco" or "the Company") 
 
             Results of the Firm Placing and Placing and Open Offer 
 
On 27 May 2010, the Board of Stanelco announced details of a share issue of up 
to 2,806,525,416 New Ordinary Shares at a price of 0.125 pence per share to 
raise approximately GBP3.5 million gross (approximately GBP2.8 million net of 
expenses). 
 
806,525,320 New Ordinary Shares will be issued through the Placing and Open 
Offer and 2,000,000,096 New Ordinary Shares will be issued through the Firm 
Placing. 
 
The Open Offer has now closed in accordance with its terms. Stanelco is pleased 
to announce that it has received valid acceptances under the Open Offer in 
respect of 574,096,803 Open Offer Shares from Qualifying Shareholders which 
represents a take-up of approximately 71.2% of the Open Offer Shares. 
 
Accordingly, the remaining 232,428,517 Open Offer Shares, representing 28.8% of 
the Open Offer Shares, have been allocated to certain institutional shareholders 
and other investors with whom they had been conditionally placed by Singer 
Capital Markets. 
 
The Firm Placing and Placing and Open Offer remain conditional, inter alia, upon 
shareholder approval, which will be sought at the General Meeting to be held 
today at the offices of Osborne Clarke at One London Wall, London, EC2Y 5EB at 
10.00 a.m. 
 
It is expected that Admission will become effective, and dealings in the New 
Ordinary Shares will commence, at 8.00 a.m. on 15 June 2010.  New Ordinary 
Shares in uncertificated form are expected to be credited to CREST accounts by 
8.00 a.m. on 15 June 2010, and definitive share certificates for the New 
Ordinary Shares in certificated form are expected to be dispatched during the 
week commencing 22 June 2010. 
 
Terms defined in the prospectus published by the Company dated 27 May 2010 (the 
"Prospectus") shall have the same meaning in this announcement unless the 
context otherwise requires. 
 
This announcement should be read in conjunction with the full text of the 
Prospectus. Copies of the Prospectus are available at the UK Listing Authority's 
Document Viewing Facility, which is situated at The UK Listing Authority, 25 The 
North Colonnade, Canary Wharf, London E14 5HS and on the Company's website 
(http://www.stanelcoplc.com/). 
 
ENQUIRIES: 
 
+--------------------------------+------------------------+ 
| Stanelco plc                   | 023 8086 7100          | 
+--------------------------------+------------------------+ 
| Paul Mines / Sue Bygrave       |                        | 
+--------------------------------+------------------------+ 
|                                |                        | 
+--------------------------------+------------------------+ 
| Financial Dynamics             | 020 7831 3113          | 
+--------------------------------+------------------------+ 
| Jonathon Brill / Caroline      |                        | 
| Stewart                        |                        | 
+--------------------------------+------------------------+ 
|                                |                        | 
+--------------------------------+------------------------+ 
| Singer Capital Markets Limited | 020 3205 7500          | 
|                                |                        | 
| (Financial adviser and broker) |                        | 
+--------------------------------+------------------------+ 
| James Maxwell / Richard Savage |                        | 
+--------------------------------+------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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