HGT Hg Capital Trust Plc

 

TIDMHGT 
 
RNS Number : 5808J 
HG Capital Trust PLC 
01 April 2010 
 

 
 
THIS ANNOUNCEMENT IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN, OR INTO 
THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, NEW ZEALAND OR SOUTH AFRICA. 
HgCapital Trust plc announces the results of the Firm Placing and Placing and 
Open Offer of New Ordinary Shares (with Subscription Shares attached) and Bonus 
Issue of Subscription Shares 
London, 1 April 2010:  Further to the announcement on 11 March 2010, HgCapital 
Trust plc (the "Company") is pleased to announce that it has received 
commitments for a total of GBP50 million through the Firm Placing and Placing 
and Open Offer of New Ordinary Shares (with Subscription Shares attached) at 845 
pence per New Ordinary Share. 
The Open Offer closed for acceptances at 11:00 a.m. on 30 March 2010. The 
Company received valid acceptances for a total of 1,026,317 New Ordinary Shares 
(with Subscription Shares attached) from Qualifying Shareholders under the Open 
Offer raising gross proceeds of approximately GBP8.7 million. This represents 
approximately 58.2 per cent. of the Open Offer Shares.  All valid applications 
under the Open Offer (including applications for Excess Shares) will be 
satisfied in full. 
The remaining 736,755 Open Offer Shares (with Subscription Shares attached) have 
been allocated to the Conditional Placees with whom they had been placed, 
raising gross proceeds of approximately GBP6.2 million. A further 4,154,088 New 
Ordinary Shares (with Subscription Shares attached) have been allocated to the 
Firm Placees raising gross proceeds of approximately GBP35.1 million. 
In aggregate, 6,220,783 Subscription Shares will be issued pursuant to the Firm 
Placing, Placing and Open Offer and the Bonus Issue. 
The Firm Placing, Placing and Open Offer and Bonus Issue are conditional, inter 
alia, upon the approval of Shareholders at the General Meeting, to be held at 
3:00 p.m. on 6 April 2010 and Admission occurring by no later than 8.00 a.m. on 
7 April 2010 or such later time or date (not later than 30 April 2010) as the 
parties to the Placing and Offer Agreement may agree. 
Application has been made to the UKLA for the New Ordinary Shares and the 
Subscription Shares to be admitted to the Official List and to the London Stock 
Exchange for the New Ordinary Shares and the Subscription Shares to be admitted 
to trading on the London Stock Exchange's main market for listed securities. It 
is expected that Admission will become effective on 7 April 2010 and that 
dealings in the New Ordinary Shares and the Subscription Shares will commence at 
8.00 a.m. on 7 April 2010. 
The New Ordinary Shares, when issued and fully paid, will be identical to and 
rank pari passu with the Existing Ordinary Shares in all respects including 
ranking for dividends. The Subscription Shares will be listed separately on the 
Official List and admitted to trading separately on the London Stock Exchange. 
The ISIN number and SEDOL code for the Ordinary Shares are GB0003921052 and 
0392105 respectively. 
The ISIN number and SEDOL code for the Subscription Shares are GB00B62CQW90 and 
B62CQW9 respectively. 
Roger Mountford, Chairman of HgCapital Trust, said: "We are very pleased to have 
received such strong support for the fundraising which will result in a 
significant widening of the Company's investor base.  We welcome new investors 
to the Company and thank existing Shareholders for their continued support. The 
additional funds raised place the Company in an even stronger position to take 
advantage of the investment opportunities that are emerging following the 
recession and credit crunch. Within the last week the Company has announced its 
investment in two acquisitions, JLA and StepStone Solutions." 
Capitalised terms used in this announcement shall, unless the context otherwise 
requires, bear the meanings given to them in the Prospectus dated 11 March 2010. 
RBS Hoare Govett Limited, which is authorised and regulated by the Financial 
Services Authority, is acting exclusively for the Company and no one else in 
connection with the Offer and is not advising any person or treating any person 
as its customer in relation to the Offer and will not be responsible to anyone 
other than the Company for providing the protections afforded to clients of RBS 
Hoare Govett or for providing advice in relation to the Offer or any matter 
referred to herein. 
 
For further details: 
+----------------------+----------------------+----------------------+ 
| HgCapital Trust      | Roger Mountford      | +44 (0) 20 7089 7888 | 
+----------------------+----------------------+----------------------+ 
| HgCapital            | Ian Armitage         | +44 (0)20 7089 7888  | 
+----------------------+----------------------+----------------------+ 
| RBS Hoare Govett     | Gary Gould           | +44 (0) 20 7678 8000 | 
| Limited              |                      |                      | 
+----------------------+----------------------+----------------------+ 
|                      | Stuart Klein         |                      | 
+----------------------+----------------------+----------------------+ 
| Maitland             | Neil Bennett         | +44 (0)20 7379 5151  | 
+----------------------+----------------------+----------------------+ 
|                      | Rowan Brown          |                      | 
+----------------------+----------------------+----------------------+ 
About HgCapital Trust plc 
HgCapital Trust plc is a listed investment trust which provides investors with 
the opportunity to invest in all private equity deals managed by HgCapital, 
alongside its institutional clients and through a publicly traded vehicle. 
HgCapital is an experienced and well-resourced private equity firm with a strong 
long-term track record managing more than GBP3 billion for some of the world's 
leading institutional and private investors. 
 
The Trust has won the Investment Week Private Equity Investment Trust of the 
Year every year since 2005. 
 
IMPORTANT INFORMATION 
This announcement is an advertisement and is not a prospectus and it does not 
constitute an offer to sell or a solicitation of an offer to buy any securities 
described herein in the United States or in any other jurisdiction, nor shall 
it, by the fact of its distribution, form the basis if, or be relied upon, in 
connection with any contract therefor.  No offer, invitation or inducement to 
acquire shares or other securities in the Company ("Shares") is being made by or 
in connection with this announcement. The Offer described in this announcement 
is being made solely by means of a prospectus published on 11 March 2010 in 
connection therewith (the "Prospectus") and any decision to buy Shares in the 
Company should be made solely on the basis of the information contained in the 
Prospectus. The Prospectus supersedes all information provided before the date 
of the Prospectus and any investment decision must be made only on the basis of 
the information contained therein. 
The information presented herein is not an offer for sale within the United 
States of any equity shares or other securities of the Company. The Company has 
not been and will not be registered under the US Investment Company Act of 1940, 
as amended (the "Investment Company Act"). In addition, the Shares have not been 
and will not be registered under the US Securities Act of 1933, as amended (the 
"Securities Act") or any other applicable law of the United States. 
Consequently, the Shares may not be offered or sold or otherwise transferred 
within the United States, or to, or for the account or benefit of, US Persons, 
except pursuant to an exemption from the registration requirements of the 
Securities Act and under circumstances which will not require the Company to 
register under the Investment Company Act.  No public offering of the Shares is 
being made in the United States. The Shares may only be resold or transferred in 
accordance with the restrictions set forth in the Prospectus to be published in 
connection with any proposed offering and related subscription documents. This 
communication should not be distributed, forwarded, transferred, reproduced, or 
otherwise transmitted, directly or indirectly, to any persons within the United 
States or to any US Persons unless it is lawful to do so. 
The promotion of the Company and the distribution of this document in the United 
Kingdom is restricted by law.  Accordingly, this communication is directed only 
at (i) persons outside the United Kingdom to whom it is lawful to communicate 
it, or (ii) persons having professional experience in matters relating to 
investments who fall within the definition of "investment professionals" in 
Article 19(5) of the Financial Services and Markets Act 2000 (Financial 
Promotion) Order 2005 (as amended), or (iii) high net worth companies, 
unincorporated associations and partnerships and trustees of high value trusts 
as described in Article 49(2) of the Financial Services and Markets Act 2000 
(Financial Promotion) Order 2005 (as amended) and persons who receive this 
communication who do not fall within (i), (ii) or (iii) above should not rely on 
or act upon this communication. 
Certain statements contained in this announcement may be forward-looking 
statements.  By their nature, forward-looking statements involve a number of 
risks, uncertainties and assumptions that could cause actual results or events 
to differ materially from those expressed or implied by the forward-looking 
statements.  These risks, uncertainties and assumptions could adversely affect 
the outcome and financial effects of the plans and events described herein. The 
Company undertakes no obligation to update its view of such risks and 
uncertainties or to publicly announce the result of any revisions to the 
forward-looking statements made herein, except where it would be required to do 
so under applicable law. Such statements are based on current expectations and 
are subject to a number of risks and uncertainties that could cause actual 
results or events to differ materially from those expressed or implied by the 
forward-looking statements. 
No representation or warranty, express or implied, is made or given by or on 
behalf of the Company or HgCapital or any of their respective affiliates or any 
of such person's directors, officers or employees or any other person as to the 
accuracy, completeness or fairness of the information or opinions contained in 
this announcement and no responsibility or liability is accepted for any such 
information or opinions. 
This announcement does not constitute a recommendation concerning the Shares. 
All investments risk the loss of capital and the value of shares may go down as 
well as up. There is no guarantee or assurance that an investment in the Company 
will achieve its investment objective. An investment in the Company is 
speculative and should form only part of a complete investment program, and an 
investor must be able to bear the loss of its entire investment. Shares may 
involve a high degree of risk. Prospective investors are advised to seek expert 
legal, financial, tax and other professional advice before making any investment 
decision. 
The release, publication or distribution of this announcement in certain 
jurisdictions may be restricted by law and therefore persons in such 
jurisdictions into which this announcement is released, published or distributed 
should inform themselves about and observe such restrictions. 
This announcement and the information contained herein is not for publication, 
distribution or release in, or into, directly or indirectly, the United States, 
Canada, Australia, Japan, New Zealand, South Africa or any other jurisdiction in 
which such publication, distribution or release would be contrary to applicable 
law or regulation, or to US persons.  The information contained herein does not 
constitute an offer of securities for sale including in the United States, 
Australia, Canada, Japan, New Zealand, South Africa or any other jurisdiction in 
which such offer would be contrary to applicable law or regulation, or to US 
Persons. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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