AgCert International PLC : IPO
03 June 2005
AgCert International PLC (the "Company") (LSE: AGC). Announcement
of £60.8 million (€ 90.0 million) institutional placing.
AgCert, a leader in the production and sale of agriculturally derived
greenhouse gas emission reductions ("Offsets"), today announces
the completion of its placing of ordinary shares with institutional
investors (the "Placing").
-
Net proceeds of the Placing will be £54.1
million (€ 80.1 million) for the Company;
-
Placing price of 140p per ordinary share;
-
Based on the above placing price per share,
the market capitalisation of the Company at the commencement of
dealings will be approximately £215 million (€ 318 million);
-
Proceeds will be used primarily to continue
AgCert's strategy of organic growth and the roll out of its production
operations, initially in Brazil and Mexico;
-
Conditional dealings are expected to commence
on the London Stock Exchange at 8.00 am today;
-
Admission to the Official List of the UK
Listing Authority and commencement of unconditional dealings on
the London Stock Exchange are expected at 8.00 am on 8 June 2005;
and
-
Code Securities Limited and Hoare Govett
Limited are acting as joint sponsors, financial advisers and brokers
to the Company. Code Securities Limited and ABN AMRO Rothschild
are acting as joint bookrunners, lead managers and underwriters
to the Company. Alan Tank, CEO and MD of AgCert, said:
"We are delighted that the Company
has received such a positive reception from institutional investors.
Admission to the London Stock Exchange is, we believe, the next
natural step in our strategy to develop the business. The listing
will help raise the profile of AgCert and enhance its reputation
with its customers and suppliers worldwide."
Contacts:
| Maitland |
|
|
| Brian Hudspith/Colin Browne |
|
0207 379 5151 |
| Code Securities Limited |
|
|
| Chris Collins/Charles Walker |
|
0207 024 2000 |
| Hoare Govett |
|
|
| Bob Pringle/Justin Jones/Hugo Fisher |
|
0207 678 8000 |
The contents of this announcement, are the sole responsibility of
the Company and have been approved by Code Securities Limited of 30
St James's Square London SW1Y 4AL and Hoare Govett Limited of 250
Bishopsgate London EC2M 4AA solely for the purposes of section 21
of the Financial Services and Markets Act 2000. Code Securities Limited
and Hoare Govett Limited, who are authorised and regulated in the
United Kingdom by the Financial Services Authority, are advising the
Company and no one else in relation to the Placing and will not regard
any other person as their client in relation to the Placing and will
not be responsible to any person other than the Company for providing
the protections afforded to their clients or for advising any other
person in relation to the Placing or any transaction or arrangement
referred to or information contained in this announcement.
This announcement does not constitute, or form part of, an offer
or invitation.
