TIDMLMP
RNS Number : 3595A
LondonMetric Property PLC
23 March 2017
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH
AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THE
INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF
SECURITIES FOR SALE IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN
OR SOUTH AFRICA (UNLESS AN EXEMPTION UNDER THE RELEVANT SECURITIES
LAWS IS AVAILABLE) OR IN ANY OTHER JURISDICTION IN WHICH THE SAME
WOULD BE UNLAWFUL
LONDONMETRIC PROPERTY PLC
("LondonMetric" or the "Company")
RESULTS OF PLACING
LondonMetric Property PLC is pleased to announce the successful
completion of the placing announced earlier today (the
"Placing").
A total of 62,804,390 new Ordinary Shares in LondonMetric (the
"Placing Shares") were placed by Peel Hunt and J.P. Morgan
Cazenove, raising gross proceeds of approximately GBP95.5 million.
Placing Shares have been issued at a price of 152.0 pence per
Placing Share. The Placing Shares being issued represent, in
aggregate, approximately 9.9 per cent. of LondonMetric's issued
ordinary share capital prior to the Placing.
The Placing Price represents a discount of 1.9 per cent. to the
closing price on 22 March 2017 of 155.0 pence. The Placing Shares
will, when issued, be credited as fully paid and rank pari passu
with the existing Ordinary Shares, including the right to receive
all future dividends and distributions declared, made or paid,
excluding the quarterly interim dividend announced on 9 March
2017.
Application will be made to the Financial Conduct Authority for
admission of the 62,804,390 Placing Shares to the premium listing
segment of the Official List maintained by the UK Listing Authority
and to the London Stock Exchange plc (the "LSE") for admission to
trading of the Placing Shares on the LSE's Main Market for listed
securities (together, "Admission"). It is expected that Admission
will take place on Monday 27 March 2017 and that dealings in the
Placing Shares on the LSE's Main Market for listed securities will
commence at the same time.
The Placing is conditional, inter alia, upon Admission becoming
effective and the Placing Agreement becoming unconditional and not
being terminated.
Following Admission the total number of voting rights in the
Company will be 692,382,431. No Ordinary Shares are held in
treasury. This figure may be used by shareholders in the Company as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change in
their interest in, the share capital of the Company under the FCA's
Disclosure and Transparency Rules.
Capitalised terms used but not defined in this announcement have
the same meanings as set out in the placing announcement of the
Company released at 7.01 a.m. (GMT) on the date hereof.
Peel Hunt and J.P. Morgan Cazenove acted as joint bookrunners in
respect of the Placing.
Andrew Jones, Chief Executive Officer of LondonMetric,
commented:
"Our increased commitment to distribution through acquisitions
and short cycle developments has clearly been welcomed by the
market today and we are grateful for the support of shareholders in
making this a successful capital raise. Our strong track record
together with our committed investments and our active pipeline of
opportunities means that we expect to deploy these funds at pace
and deliver on our plans to increase distribution exposure to at
least 70% within a year."
Further enquiries:
LondonMetric Property Tel: +44 (0) 20 7484 9000
Andrew Jones
Martin McGann
Gareth Price
Peel Hunt Tel: +44 (0) 20 7418 8914
Capel Irwin
Alastair Rae
J.P. Morgan Cazenove Tel: +44 (0) 20 7742 4000
Bronson Albery
Charles Pretzlik
FTI Consulting Tel: +44 (0) 20 3727 1000
Dido Laurimore
Tom Gough
Richard Gotla
This Announcement contains Inside Information as defined under
the Market Abuse Regulation (EU) No. 596/2014.
IMPORTANT NOTICE
The information contained in this Announcement is restricted and
not for release, publication or distribution, directly or
indirectly, in whole or in part, in, into or from the United
States, Australia, Canada, Japan or South Africa or any
jurisdiction in which the same would be unlawful. This Announcement
is for information purposes only and does not constitute an offer
to sell or issue or the solicitation of an offer to buy or acquire
shares in the capital of the Company in the United States,
Australia, Canada, Japan or South Africa (unless an exemption under
the relevant securities laws is available) or any other
jurisdiction. Any failure to comply with these restrictions may
constitute a violation of the securities laws of such
jurisdictions. No prospectus will be made available in connection
with the matters contained in this Announcement and no such
prospectus is required (in accordance with the Prospectus Directive
(as defined below)) to be published. Persons needing advice should
consult an independent financial adviser.
The Placing Shares have not been and will not be registered
under the United States Securities Act of 1933, as amended
("Securities Act"), or with any securities regulatory authority of
any state or jurisdiction of the United States, and may not be
offered, sold or transferred, directly or indirectly, in the United
States absent registration under the Securities Act or an available
exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and the securities
laws of any state or other jurisdiction of the United States. The
Placing Shares are being offered and sold (i) outside the United
States only to non-US persons (within the meaning of the Securities
Act) in accordance with Regulation S under the Securities Act and
(ii) within the United States only to a limited number of eligible
investors pursuant to an exemption from the registration
requirements of the Securities Act.
The contents of this Announcement are not to be construed as
legal, financial or tax advice. If necessary, each recipient of
this Announcement should consult his, her or its own legal adviser,
financial adviser or tax adviser for legal, financial or tax
advice. Each placee should consult with its own advisers as to
legal, tax, business and related aspects of an acquisition of
Placing Shares.
This announcement is not being distributed by, nor has it been
approved for the purposes of section 21 of the Financial Services
and Markets Act 2000 ("FSMA") by, a person authorised under FSMA.
This announcement is being distributed and communicated to persons
in the UK only in circumstances in which section 21(1) of FSMA does
not apply.
This Announcement does not constitute an offer of securities to
the public in the United States, the United Kingdom or in any other
jurisdiction. There will be no public offer of securities in the
United States, United Kingdom or in any other jurisdiction. This
Announcement is being directed only at persons in member states of
the European Economic Area who are 'Qualified Investors' within the
meaning of article 2(1)(e) of the Prospectus Directive (which means
Directive 2003/71/EC and includes any relevant implementing
directive measure in any member state). In addition, in the UK,
this announcement is being directed only at Qualified Investors who
(a) have professional experience in matters relating to investments
and who fall within article 19(5) ("Investment professionals") of
the Financial Services and Markets Act 2000 (Financial Promotion)
Order 2005 (the "Order"); or (b) are persons falling within article
49(2)(a) to (d) ("High net worth companies, unincorporated
associations, etc") of the Order; or (c) are persons to whom it may
otherwise be lawfully communicated. Any investment activity in
connection with the Placing will only be available to, and will
only be engaged with, relevant persons. This Announcement must not
be acted on or relied on by persons who are not Relevant
Persons.
This Announcement has been issued by, and is the sole
responsibility, of the Company. No representation or warranty
express or implied, is or will be made as to, or in relation to,
and no responsibility or liability is or will be accepted by Peel
Hunt or JPMC or by any of their respective affiliates or agents as
to or in relation to, the accuracy or completeness of this
Announcement or any other written or oral information made
available to or publicly available to any interested party or its
advisers, and any liability therefor is expressly disclaimed.
Neither Peel Hunt, JPMC nor any of their affiliates or agents shall
have any obligation to update this announcement or any additional
information or to correct any inaccuracies in it which may become
apparent.
Peel Hunt LLP ("Peel Hunt") which is authorised and regulated in
the United Kingdom by the Financial Conduct Authority (the "FCA"),
is acting as joint bookrunner to the Company in connection with the
Placing and no-one else and will not be responsible to anyone other
than the Company for providing the protections afforded to clients
of Peel Hunt nor for providing advice in relation to the Placing or
any other matter referred to in this Announcement.
J.P. Morgan Securities plc (which conducts its UK investment
banking business under the name J.P. Morgan Cazenove) ("JPMC"),
which is authorised in the United Kingdom by the Prudential
Regulation Authority (the "PRA") and regulated by the PRA and the
FCA is acting as joint bookrunner to the Company in connection with
the Placing and no-one else and will not be responsible to anyone
other than the Company for providing the protections afforded to
clients of JPMC nor for providing advice in relation to the Placing
or any other matter referred to in this Announcement.
Aside from the responsibilities and liabilities, if any, which
may be imposed under FSMA or the regulatory regime established
thereunder, or any other applicable regulatory regime, none of Peel
Hunt, JPMC or any of their respective affiliates accept any
responsibility or liability whatsoever for, nor make any
representation or warranty, express or implied, as to the contents
of this Announcement, including its accuracy, fairness,
completeness or verification, or for any other statement made or
purported to be made by it, or on its behalf, in connection with
the Company or the Placing and nothing in this Announcement is, or
shall be relied upon as a promise or representation in this
respect, whether as to the past or future. Each of Peel Hunt, JPMC
and their respective affiliates accordingly disclaims to the
fullest extent permitted by law all and any responsibility or
liability whether arising in tort, contract or otherwise (save as
referred to above) which they might otherwise have in respect of
this Announcement or any such statement.
The distribution of this Announcement and the offering of the
Placing Shares in certain jurisdictions may be restricted by law.
No action has been taken by the Company, Peel Hunt or JPMC that
would permit an offering of such shares or possession or
distribution of this Announcement or any other offering or
publicity material relating to such shares in any jurisdiction
where action for that purpose is required. Persons into whose
possession this Announcement comes are required by the Company,
Peel Hunt and JPMC to inform themselves about, and to observe, such
restrictions.
The information in this Announcement may not be forwarded or
distributed to any other person and may not be reproduced in any
manner whatsoever. Any forwarding, distribution, reproduction, or
disclosure of this information in whole or in part is unauthorised.
Failure to comply with this directive may result in a violation of
the Securities Act or the applicable laws of other
jurisdictions.
This Announcement contains (or may contain) certain
forward-looking statements with respect to certain of the Company's
current expectations and projections about future events. These
statements, which sometimes use words such as "anticipate",
"believe", "intend", "estimate", "expect" and words of similar
meaning, reflect the directors' beliefs and expectations and
involve a number of risks, uncertainties and assumptions that could
cause actual results and performance to differ materially from any
expected future results or performance expressed or implied by the
forward-looking statement. Statements contained in this
Announcement regarding past trends or activities should not be
taken as a representation that such trends or activities will
continue in the future. The information contained in this
Announcement is subject to change without notice and, subject to
any obligations under the Listing Rules and the Disclosure Guidance
and Transparency Rules or any other applicable law or regulation,
the Company does not assume any responsibility or obligation to
update publicly or review any of forward-looking statements
contained herein. You should not place undue reliance on
forward-looking statements, which speak only as of the date of this
Announcement. No statement in this Announcement is or is intended
to be a profit forecast or to imply that the earnings of the
Company for the current or future financial years will necessarily
match or exceed the historical or published earnings of the
Company. The price of shares and the income from them may go down
as well as up and investors may not get back the full amount
invested on disposal of the shares.
The Placing Shares to be issued pursuant to the Placing will not
be admitted to trading on any stock exchange other than the
LSE.
Neither the content of the Company's website nor any website
accessible by hyperlinks on the Company's website is incorporated
in, or forms part of, this Announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ROIJJMJTMBITBPR
(END) Dow Jones Newswires
March 23, 2017 09:52 ET (13:52 GMT)
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