Quadrise Regulatory News (QED)

10 Dec 2009 09:13



This announcement (and the information contained herein) is not for release, publication or distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States and the district of Columbia), Australia, Canada,South Africa or Japan.

10 December 2009

Quintain Estates and Development plc ("Quintain" or the "Company")

RESULT OF RUMP PLACING

Quintain announced earlier today that, as at 11.00 a.m. on 9 December 2009, being the latest date and time for receipt of valid subscriptions, it had received valid acceptances in respect of 383,949,664 New Ordinary Shares, representing approximately 98.41 per cent of the total number of New Ordinary Shares offered to Shareholders pursuant to the 3 for 1 Rights Issue announced on 5 November 2009.

Quintain now announces that J.P. Morgan Cazenove Limited has procured subscribers for the remaining6,210,632 New Ordinary Shares for which valid acceptances were not received, at a price of 60 pence per New Ordinary Share.

The net proceeds after deduction of the Issue Price of 49 pence per New Ordinary Share and the expenses of procuring subscribers will be paid to those shareholders that have not taken up their entitlements pro rata to their lapsed provisional allotments, except that individual amounts of less than £5.00 will not be paid to such persons but will be retained and will ultimately accrue for the benefit of the Company.

Capitalised terms used, but not defined, in this announcement shall have the same meanings as given to them in the Prospectus relating to the Rights Issue dated 5 November 2009. 

ENQUIRIES: 

IMPORTANT NOTICE:

This announcement does not constitute or form part of any offer or invitation to purchase, otherwise acquire, subscribe for, sell, otherwise dispose of or issue, or any solicitation of any offer to sell, otherwise dispose of, issue, purchase, otherwise acquire or subscribe for, any security.

This announcement is an advertisement and does not constitute a prospectus or prospectus equivalent document. Nothing in this announcement should be interpreted as a term or condition of the Rights Issue. Any decision to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any Provisional Allotment Letter, Nil Paid Rights, Fully Paid Rights, and/or New Ordinary Shares must be made only on the basis of the information contained in and incorporated by reference into the Prospectus.

This announcement does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be offered or sold in the United States absent registration, or an exemption from registration, under the US Securities Act of 1933, as amended (the "Securities Act"), or an exemption from, or in a transaction not subject to, registration. The Company has not registered and does not intend to register any securities under the Securities Act. There will be no public offering of the securities in the United States. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada or, Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. The offer and sale of the securities referred to herein has not been and will not be registered under the applicable securities laws of Australia, Canada, South Africa or Japan.

Each of J.P. Morgan Cazenove Limited, J.P. Morgan Securities Ltd., Lazard & Co., Limited, HSBC Bank plc and Barclays Bank PLC (together, the "Banks") is acting exclusively for Quintain in connection with the Rights Issue. None of the Banks will regard any other person as their client in relation to the Rights Issue and will not be responsible to anyone other than Quintain for providing the protections afforded to their respective clients nor for the giving of advice in relation to the Rights Issue.