ArmorGroup International announces £30m Placing 
(09/12/2004)
ArmorGroup International plc today announced the pricing of its initial public offering to institutional investors, the publication of listing particulars in connection with the listing of its ordinary shares on the Official List of the UK Listing Authority. Conditional dealings will start tomorrow, 10th December 2004.
The Placing will comprise a total 24,584,935 shares at 125p per Ordinary Share (the “Placing Price”), being the issue by the Company of 23,200,000 Ordinary Shares and the sale by certain selling shareholders of 1,384,935 Ordinary Shares, together representing 47 per cent of the enlarged issued share capital of the company. Based on the Placing Price, the market capitalisation of ArmorGroup on commencement of conditional dealings will be £65.1 million.
Gross proceeds of the Placing will be £30.7 million of which £29.0 million due to the Company (net proceeds of £26.0 million due to the Company). The Company intends to use the net proceeds of the Placing due to it primarily to rebalance the funding structure of the Group thereby allowing it to tender for significant new contracts and so grow further.
Conditional dealings expected to commence on the London Stock Exchange at 8.00am on 10 December 2004. The mnemonic is ARG, the SEDOL number is B049FG3 and the ISIN number is GB00B049FG32. Admission to the Official List of the UK Listing Authority (“Admission”) and commencement of unconditional dealings on the London Stock Exchange expected at 8.00am on 14 December 2004.
Jerry Hoffman, Chief Executive Officer, said: “We are delighted the Placing has been so well received and welcome our new shareholders in ArmorGroup. We have a strong market position and exciting plans for the future in a world in which our services are increasingly required. The Placing and flotation on the London Stock Exchange will enable us to build on our achievements over the last twenty years and allow us and our shareholders to take full advantage of the exciting prospects ahead.”
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