07.12.2009

Lavendon’s open offer closes

The Open Offer for the new shares in Lavendon’s £81 million fund raising has now closed with valid acceptances for 50,067,819 Open Offer Shares from Qualifying Shareholders, representing 65.04 percent of the open offer shares. The remaining 34.96 percent have been taken up by the underwriters.

The capital raising remains conditional on the approval of shareholders at the Extraordinary General Meeting, to be held at 11.00 today.

Kevin Appleton, chief executive of Lavendon, said: "We are very pleased with the level of support from our existing shareholders and are also pleased to welcome a number of new shareholders who will assist in expanding our shareholder base going forward"