Bramdean Alternatives Limited (the “Company”)
4 July 2007
Result of Placing and Offer for Subscription
On 6 June 2007, the Company announced the placing and offer for subscription of sterling shares at £1.00 each and the placing of US$ shares at $1.00 each.
The Board of the Company is pleased to announce that monies totalling £131 million (before costs and expenses) have been raised pursuant to the issue. The Company has received applications for in aggregate 130,142,311 sterling shares under the offer for subscription and the placing, and 1,785,000 US$ shares under the placing. Net proceeds to the Company are expected to amount to approximately £126.9 million.
The US$ / sterling spot rate to be used for the purposes of the weighted voting calculation, determined as described in Part VII of the Company’s prospectus dated 6 June 2007, is 2.0194 / 1. As such, each US$ share shall be entitled to one vote and each sterling share shall be entitled to 2.0194 votes.
The placing and offer for subscription are conditional upon, inter alia, the admission of the Shares to trading on the London Stock Exchange and to the official list of the UK Listing Authority (“Admission”). It is expected that Admission will become effective and dealings in the Shares will commence on the London Stock Exchange at 8.00 a.m. on 9 July 2007. Conditional upon receipt of cleared funds, the number of issued sterling shares immediately following Admission will be 130,142,311 and the number of issued US$ shares 1,785,000.
For further information please contact:
Bramdean Asset Management LLP
Tel: +44 (0) 20 7590 2001
Amanda McCrystal
Royal Bank of Canada Offshore
Tel: +44 (0) 1481 744 130
Robin Amer (Company Secretary)
Cenkos Securities plc
Tel: +44 (0) 20 7397 8900
Charlie Ricketts
Will Rogers