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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Investor AB | TG:IVS | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.26 | 1.07% | 24.59 | 24.53 | 24.57 | 24.66 | 24.57 | 24.57 | 234 | 16:06:05 |
RNS Number:5499K Inveresk PLC 30 April 2003 INVERESK PLC RESULTS OF PLACING & OPEN OFFER, RESULTS OF EGM AND STATEMENT Inveresk announced at its EGM held today that by 3.00 pm on 29 April 2003, valid applications, including excess applications, under the Open Offer made by the Company on 4 April 2003 had been received in respect of 33,097,295 Ordinary Shares. This represents 101.4 per cent of the Offer Shares (excluding those Offer Shares that were the subject of irrevocable undertakings not to take up their entitlements). Shareholders that applied for Offer Shares in excess of their pro rata entitlements have been scaled back, being allocated approximately 90.7% of the excess amounts that they applied for. It was also announced that all resolutions proposed at the EGM today were duly passed. At the EGM, Alan Walker made the following statement: "I am delighted to say that both the Placing and the Open Offer were oversubscribed. This level of take up from existing and new investors is very gratifying, and a testament to the progress that has been made in resolving the many difficulties that Inveresk faced when the current Board was appointed in the final quarter of last year. The finalisation of this Placing and Open Offer and the conversion of the unsecured loans marks the completion of the re-capitalisation and refinancing of Inveresk. The Company now has a stronger balance sheet, a supportive bank and a wider shareholder base including a range of well known institutional investors. Trading in the year to date at each of the Company's mills has been ahead of expectations and we continue to be confident about the prospects for both Carrongrove and St Cuthberts as well as for the Company as a whole. We expect to announce Inveresk's preliminary results for the period ended 31 December 2002 on or around 7 May, and will at that time make a more detailed statement about the Company's recent trading and its prospects for the future." The new Ordinary Shares are expected to be admitted to AIM and to commence trading at 8.00 a.m. on Friday, 2 May 2003. On admission of these new Ordinary Shares, the Board will issue and allot a further 12,938,270 new Ordinary Shares to Klippan AB and to Mr Lersten pursuant to the conversion of their unsecured loans to the Company amounting in aggregate to #1,293,827. It is expected that these new Ordinary Shares will be admitted to trading on AIM and to commence trading at 8.00 a.m. on Monday, 5 May 2003. The total number of Ordinary Shares in issue following the Placing and Open Offer and loan conversion will be 134,743,020. Enquiries: Inveresk Plc Alan Walker (Chief executive) 020 7240 1234 Jan Bernander (Chairman) 00 46 708 556 400 KBC Peel Hunt Ltd Oliver Scott 020 7418 8900 Definitions of certain words and expressions used in this announcement are the same as those used in the Company's prospectus dated 4 April relating to the Placing and Open Offer. This information is provided by RNS The company news service from the London Stock Exchange END ROIIIFEASTIIVIV
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