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Name | Symbol | Market | Type |
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Hull 2h%1938 | LSE:71HB | London | Bond |
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RNS No 1928t KINGSTON COMMUNICATIONS (HULL) PLC 22 June 1999 Not for release, publication or distribution in, or into, the United States, Canada, Australia or Japan FLOTATION OF KINGSTON COMMUNICATIONS Kingston upon Hull City Council and Kingston Communications (HULL) PLC ("Kingston Communications" or the "Company") today announce that the prospectus for the Global Offer of 175,000,001 Ordinary Shares has been published. Deutsche Bank AG London and Robert Fleming & Co. Limited are Joint Global Co- ordinators and Joint Sponsors for the Global Offer. Key Information * Kingston upon Hull City Council is offering 100,000,001 Ordinary Shares and the Company is offering 75,000,000 Ordinary Shares * In addition, the Council will grant the Joint Global Co-ordinators an Overallotment Option to purchase or procure purchasers for up to an additional 17,500,000 Ordinary Shares * The Ordinary Shares are to be listed on the London Stock Exchange * The Offer Price is expected to be between 175 pence and 225 pence per Ordinary Share * The net proceeds receivable by the Company are expected to be approximately #141.5 million (at the mid-point of the Offer Price Range) * Immediately following flotation and assuming no exercise of the Overallotment Option, Kingston upon Hull City Council will hold approximately 49.9 per cent. of the Company's issued share capital Expected Timetable * Commencement of the Global Offer - Tuesday 22 June 1999 * Local Retail Offer, Employee Offers and Intermediaries Offer close - Wednesday 7 July 1999 * Institutional Book closes - Friday 9 July 1999 * Offer Price expected to be announced - Monday 12 July 1999 * Conditional dealings expected to commence - Monday 12 July 1999 * Admission and unconditional dealing expected to commence - Monday 19 July 1999 Steve Maine, Chief Executive of Kingston Communications, commented: "By gaining access to additional capital, Kingston Communications intends to accelerate its strategic development in growth markets for telecommunications services. At the same time we intend to maintain our reputation for providing value for money and high levels of customer service." For further information: Kingston upon Hull City Kingston Communications Council 01482 602 250 01482 615 000 Steven Maine Ian Crookham Deutsche Bank AG London Robert Fleming & Co. Limited 0171 545 8830 0171 638 5858 Philip Southwell Philip Bradley Gavin Anderson 0171 457 2345 Marc Popiolek Henrietta Graham-Campbell This document has been approved by Deutsche Bank AG London and Robert Fleming & Co. Limited as an investment advertisement for the purposes of Section 57 of the Financial Services Act 1986. This document does not form part of any offer of securities. Any subscription or purchase of, or application for, shares in the proposed flotation and offer should be made only on the basis of information in the prospectus to be issued in connection with the proposed flotation and offer. Deutsche Bank AG London, which is regulated by the Securities and Futures Authority Limited, is acting as financial adviser to Kingston upon Hull City Council and is acting as joint sponsor to the Company in relation to the proposed flotation and offer of shares. It is advising no one else and will not be responsible to anyone other than the Company for providing the protections afforded to customers of Deutsche Bank AG London nor for providing any advice in relation to the proposed flotation and offer. Robert Fleming & Co. Limited, which is regulated by the Securities and Futures Authority Limited, is acting as financial adviser to the Company and is acting as joint sponsor to the Company in relation to the proposed flotation and offer of shares. It is advising no one else and will not be responsible to anyone other than the Company for providing the protections afforded to customers of Robert Fleming & Co. Limited nor for providing any advice in relation to the proposed flotation and offer. Neither this press release nor any copy of it may be taken, transmitted or distributed, directly or indirectly, in or into Canada, Australia, Japan or the United States or to US persons (as defined in Regulation S under the US Securities Act of 1933 (the "Securities Act")). This press release is not an offer of shares for sale into the United States and the shares may not be offered or sold in the United States unless they are registered or exempt from registration. The shares in Kingston Communications (HULL) PLC have not been and will not be registered under the Securities Act and, subject to certain exemptions, may not be offered or sold within the United States or to, or for the account or benefit of, US persons. No public offer is being made in the United States. END MSCFLFFLKQKXBKL
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