LAN Land OF Leather

    RNS Number : 9304Y
  Land of Leather Holdings plc
  11 July 2008
   


    Land of Leather Holdings plc
    11 July 2008


    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE
REPUBLIC OF SOUTH AFRICA

    THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS AND INVESTORS SHOULD NOT SUBSCRIBE FOR OR PURCHASE ANY SHARES REFERRED TO IN
THIS ANNOUNCEMENT EXCEPT ON THE BASIS OF INFORMATION IN THE PROSPECTUS PUBLISHED BY LAND OF LEATHER PLC ON 19 JUNE 2008 IN CONNECTION WITH
THE PROPOSED PLACING AND OPEN OFFER (THE 'PROSPECTUS')


      Land of Leather Holdings plc
      Result of Placing and Open Offer


    Land of Leather Holdings plc (LSE: LAN) ('Land of Leather' or the 'Company') announces that by 11.00 a.m. on 11 July 2008 (today), being
the latest time for receipt of Application Forms and payment in full or settlement of CREST instructions under the Open Offer announced on
19 June 2008, valid applications had been received from Qualifying Shareholders in respect of 8,504,527 New Ordinary Shares, representing
28.4 per cent. of the 29,945,226 New Ordinary Shares available under the Open Offer.  Therefore the balance of 21,440,699 New Ordinary
Shares not applied for by Qualifying Shareholders in the Open Offer will be taken up by the investors who applied for shares in the
Placing.

    The New Ordinary Shares to be issued pursuant to the Placing and Open Offer will be credited as fully paid, will rank in full for all
dividends and other distributions declared, made or paid after Admission and will otherwise be identical to and rank pari passu with the
existing Ordinary Shares in all respects.

    The Placing and Open Offer, undertaken to raise �15.0 million (before expenses), remains conditional upon, inter alia, the passing of
the Resolutions at the EGM of the Company at 10.00 a.m. on 14 July 2008, and admission of the New Ordinary Shares to the Official List and
to trading on the London Stock Exchange's market for listed securities. Application has been made to the FSA for the New Ordinary Shares to
be admitted to the Official List and to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on the London Stock
Exchange's market for listed securities. It is expected that Admission will become effective and dealings in the New Ordinary Shares will
commence at 8.00 a.m. on 15 July 2008.

    Terms defined in the Company's prospectus relating to the Placing and Open Offer dated 19 June 2008 (the 'Prospectus') have the same
meaning in this announcement. A copy of the Prospectus has been submitted to the UKLA, and is available for inspection at the Document
Viewing Facility, which is situated at: Financial Services Authority, 25 The North Colonnade, Canary Wharf,  London E14 5HS, Tel no: 020
7676 1000.


      - ends -


    Enquiries:

    Land of Leather Holdings plc
    Clive Hatchard                            0147 432 2277

    Investec
    James Grace / Patrick Robb                0207 597 5180

    Kaupthing
    Nicholas How / Paul Wedge                 0203 205 5000

    Hudson Sandler
    Michael Sandler                           0207 796 4133


    Investec Investment Banking, a division of Investec Bank (UK) Limited, which is authorised and regulated in the United Kingdom by the
Financial Services Authority and is a member of the London Stock Exchange, is acting for the Company and no-one else in connection with the
Placing and Open Offer and will not be responsible to anyone other than the Company for providing the protections afforded to its customers
or for providing advice in relation to the Placing and Open Offer or any other matter referred to herein.

    Kaupthing Singer & Friedlander Capital Markets Limited which is authorised and regulated in the United Kingdom by the Financial Services
Authority and is a member of the London Stock Exchange, is acting for the Company and no-one else in connection with the Placing and Open
Offer and will not be responsible to anyone other than the Company for providing the protections afforded to its customers or for providing
advice in relation to the Placing and Open Offer or for any other matter referred to herein.

    This announcement has been issued by Land of Leather Holdings plc and is the sole responsibility of Land of Leather Holdings plc. This
announcement does not constitute, or form part of, an offer or solicitation of an offer, to purchase or subscribe for, underwrite or
otherwise acquire, any rights, shares or other securities.


    This announcement includes 'forward-looking statements' which include all statements other than statements of historical facts,
including, without limitation, those regarding the Group's financial position, business strategy, plans and objectives of management for
future operations (including development plans and objectives relating to the Group's products and services), and any statements preceded
by, followed by or that include forward-looking terminology such as the words 'targets', 'believes', 'estimates', 'expects', 'aims',
'intends', 'will', 'can', 'may', 'anticipates', 'would', 'should', 'could' or similar expressions or the negative thereof. Such
forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Group's control that could
cause the actual results, performance or achievements of the Group to be materially different from future results, performance or
achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Group's present and future business strategies and the environment in which
the Group will operate in the future. Among the important factors that could cause the Group's actual results, performance or achievements
to differ materially from those in forward-looking statements include those relating to Land of Leather's funding requirements, regulatory
approvals, reliance on third parties, intellectual property, key personnel and other factors. These forward-looking statements speak only as
at the date of this announcement. The Group expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any
forward-looking statements contained in this announcement to reflect any change in the Group's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statements are based. As a result of these factors, readers are cautioned
not to rely on any forward-looking statement.



This information is provided by RNS
The company news service from the London Stock Exchange
 
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