Xenova Group Says Open Offer Take-Up At 21.5%
Thursday December 18, 2:48 am ET
LONDON -(Dow Jones)- Xenova Group PLC (NasdaqNM:XNVA - News) Thursday said that the Open Offer to Qualifying Shareholders of up to 18,760,169 Units at 112.5 pence per share closed at 3.00 pm on 17 December 2003.
Of these Units, 6,090,148 Units were placed firm, comprising 1,919,296 Units which were the subject of an undertaking not to take up under the Open Offer and 4,170,852 Units which were attributable to ADSs which Xenova's ADS depository was not entitled to take up under the Open Offer.
Applications were received under the Open Offer in respect of 2,725,367 Units, representing approximately 21.5%. of the remaining Units available under the Open Offer (excluding those Units which were the subject of an undertaking not to take up under the Open Offer and which were placed firm). This includes the 37,130 Units the Directors of Xenova Group plc agreed to take up under the Open Offer.
The remaining 9,944,654 Units and the 6,090,148 Units that were placed firm ( constituting a total of 16,034,802 Units) will be taken up by new and existing institutional investors pursuant to the U.K. Placing arranged by Nomura International plc and the U.S. Private Placement for which the sole placing agent was ThinkEquity Partners LLC.
On 26 November 2003, Xenova Group plc announced a U.K. Placing, U.S. Private Placement and Open Offer of 18,760,169 Units (comprising in aggregate 187,601, 690 Offer Shares and 56,280,507 Warrants) at a price of 112.5 pence per Unit to raise approximately GBP21.1 million (approximately GBP19.4 million net of expenses), of which 6,090,148 Units were placed firm with institutional investors and 12,632,891 Units were placed with institutional investors subject to clawback to satisfy valid applications by Qualifying Shareholders of the Company under the Open Offer.
Each Warrant entitles the holder to subscribe for one New Ordinary Share at a price of 12.5 pence per New Ordinary Share during the period from 1 July 2004 to 31 December 2008... |
