Cash Placing/Trading Update
2006年9月28日 - 4:04PM
RNSを含む英国規制内ニュース (英語)
RNS Number:5995J
Hyder Consulting PLC
28 September 2006
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA,
JAPAN, SOUTH AFRICA OR THE UNITED STATES
HYDER CONSULTING PLC ("Hyder Consulting" or the "Company")
CASH PLACING AND TRADING UPDATE
Hyder Consulting, the international engineering design, advisory and specialist
management consultancy, is pleased to announce a conditional cash placing of new
ordinary shares and a trading update.
CASH PLACING
The Company has today entered into a conditional agreement with Bell Lawrie, a
division of Brewin Dolphin Securities Limited ("Bell Lawrie"), pursuant to which
Bell Lawrie has undertaken to use its reasonable endeavours to raise up to
approximately #7.8 million (before expenses of around #0.3 million) by way of a
conditional placing for cash (the "Cash Placing") of up to 2,569,255 new
ordinary shares of 10 pence each ('Cash Placing Shares') with institutional and
other investors at 305 pence per share ("the Placing Price").
As was explained in the Company's annual report for the year ended 31 March,
2006, Hyder Consulting continues to pursue further infill acquisitions within
its existing territories and market sectors. In particular, the Company is
seeking to achieve critical mass in Germany and Hong Kong; to increase the
proportion of the Group's overall turnover represented by higher margin advisory
business; and to increase the proportion of the Group's UK turnover derived from
private sector clients.
The Group has a current pipeline of potential acquisitions under active
discussion, of up to #20 million in aggregate, and hopes to be able to secure a
reasonable proportion of these. The Group has targeted to spend up to #30
million on acquisitions over the next two to three years.
The Cash Placing Shares represent approximately 7.74 per cent of the existing
issued share capital of the Company (and approximately 7.18 per cent of the
enlarged issued share capital following the Cash Placing).
TRADING UPDATE
Trading during the first half year taken as a whole has been slightly ahead of
the Board's expectations. The Group has continued to make good progress in
securing new work and since our announcement on 20 July has secured further
significant awards, including:
- structural building services and facades design associated
with two multi-storey towers for the Dubai Chamber of Commerce;
- design and supervision of major new sewerage upgrades to the
north west of Dublin;
- appointed to the Scientific Services Framework for the London
Low Emission Zone;
- appointed in over 30 categories of the UK Ministry of
Defence's Framework Agreement for Technology Services.
In consequence, the order book remains strong and ahead of budget.
DETAILS OF THE CASH PLACING AND ADMISSION
The Cash Placing is conditional on, amongst other matters, admission of the Cash
Placing Shares to the Official List of the UK Listing Authority and to trading
on the London Stock Exchange ("Admission") becoming effective by 5 October 2006
(or such later time and/or date as the Company and Bell Lawrie may agree, not
being later than 12 October 2006). The Cash Placing has not been underwritten.
The placing agreement which has been entered into between the Company and Bell
Lawrie contains provisions entitling Bell Lawrie to terminate their obligations
prior to Admission in certain circumstances, including any breach by the Company
of its obligations which Bell Lawrie considers to be material in the context of
the Cash Placing or the occurrence of a force majeure event.
Application will be made for the Cash Placing Shares, which will (when issued)
rank pari passu in all respects with the existing issued ordinary shares in the
Company, to be admitted to the Official List and to trading on the London Stock
Exchange's market for listed securities. Admission is expected to become
effective on 5 October 2006.
For further details:
Tim Wade, Chief Executive, Hyder Consulting PLC Tel: 020 7316 6000
Simon Hamilton-Eddy, Financial Director,
Hyder Consulting PLC Tel: 020 7316 6000
Sandy Fraser, Bell Lawrie Tel: 0131 225 2566
Shane Dolan, Biddicks Tel: 020 7448 1000
28 September 2006
This announcement does not constitute an offer or invitation to acquire or
dispose of any securities of the Company.
Bell Lawrie is acting exclusively for Hyder Consulting in connection with the
Cash Placing and no one else and will not be responsible to anyone other than
Hyder Consulting for providing the protections afforded to clients of Bell
Lawrie or for providing advice in relation to matters referred to in this
announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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