The Company announces that the Open Offer closed at 3.00pm on 9 March 2001 and
that valid applications have been received for 23,455,319 Open Offer Shares.
The Company obtained irrevocable undertakings not to take up their
entitlements under the Open Offer from Graeme Frost, Kaye Sycamore, David
Clements and Anthony Caplin, in respect of, in aggregate, 2,137,433 Open Offer
Shares. The number of valid applications for Open Offer Shares therefore
represents approximately 75.2 per cent. of the Open Offer Shares which were
capable of being taken up by qualifying shareholders.
The remaining Open Offer Shares not taken up by qualifying shareholders under
the Open Offer have been conditionally placed by Investec Henderson
Crosthwaite at the Issue Price along with the 38,808,332 new Ordinary Shares
conditionally placed firm under the Placing.
At the extraordinary general meeting of the Company held earlier today, the
resolution put to shareholders, inter alia, to approve the Placing and the
Open Offer was duly passed. The Open Offer remains conditional upon admission
of the new Ordinary Shares to the Official List, which is expected to take
on 15 March 2001.
Further to the announcement on 16 February 2001, Claes Hultman was appointed
to the Board of the Company as Chairman following the EGM.
