RHG Real Hotel Grp

RNS Number:1933W
Reed Health Group PLC
21 May 2002


Reed Health Group plc ("Reed Health Group" or the "Company")


Result of placing and open offer (the "Placing and Open Offer")

Results of extraordinary general meeting (the "Extraordinary General Meeting")
and class meetings (the "Class Meetings")


On 26 April 2002 Reed Health Group announced the proposed acquisition of The
Locum Group Limited ("Locum") and a proposed placing and open offer of
14,911,193 new ordinary shares of 2p each (the "New Ordinary Shares") at an
issue price of 150p per New Ordinary Share (the "Issue Price").  The Open Offer
was made to qualifying shareholders on the basis of 1 New Ordinary Share for
every 3 existing ordinary shares and/or existing "B" ordinary shares held on the
record date (the "Open Offer").



Result of the Placing and Open Offer



Certain Reed Health Group shareholders (being principally members of the Reed
family, including James Reed, one of the Company's directors) gave irrevocable
undertakings not to take up their entitlements to an aggregate 8,355,082 New
Ordinary Shares under the Open Offer and these New Ordinary Shares were placed
firm with institutional and other investors at the Issue Price by Robert W.
Baird Limited ("Baird").



The Open Offer closed at 3.00 p.m. on Monday, 20 May 2002. At that time valid
applications had been received for 3,262,232 New Ordinary Shares, representing
49.8 per cent. of the remaining 6,556,111 New Ordinary Shares capable of being
taken up by qualifying shareholders under the Open Offer. The 3,293,879 Ordinary
Shares not taken up have been placed by Baird with institutional and other
investors at the Issue Price.



Result of the Extraordinary General Meeting and the Class Meetings



Reed Health Group also announces that, at the Extraordinary General Meeting and
Class Meetings held earlier today, the resolutions put to shareholders of the
Company to approve, inter alia, the Placing and Open Offer and the acquisition
of Locum were duly passed.



The Placing and Open Offer and the acquisition of Locum remain conditional upon,
amongst other things, admission of the New Ordinary Shares to the Official List
and to trading on the London Stock Exchange's market for listed securities,
which is expected to take place on 27 May 2002.



The New Ordinary Shares will rank pari passu in all respects with the existing
ordinary shares of 2p each in the Company currently in issue.



For further enquiries:



Reed Health Group plc                                Tel: 020 7834 3181

Christa Echtle (Chief Executive)

Desmond Doyle (Group Finance Director)



Robert W. Baird Limited                           Tel: 020 7488 1212

Nicholas Naylor

Xavier de Mol



Weber Shandwick Square Mile                 Tel: 020 7950 2800

Louise Robson

Graham Herring



21 May 2002



ENDS



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

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