St Helens Private Equity Plc

March 12, 2009 03:00 ET

Statement re Rights Issue

                                                                                     12 March 2009

                                   ST HELEN'S PRIVATE EQUITY PLC
                                     ("SHPE" or "the Company")
                                        (PLUS SYMBOL: SHPE)

                                           RIGHTS ISSUE

St  Helen's Private Equity Plc the Pre-IPO, Special Situations and 'Small cap' investment  company
announces  a Rights Issue (the 'Issue') of one new ordinary share of 6p each at 35p per share  for
every  three ordinary shares held on 6 March 2009 to raise approximately £197,000 before  expenses
through the issue of up to 563,217 new ordinary shares.

Under  the terms of the Issue all shareholders will have the right to subscribe for excess shares.
Subscriptions  for  excess  shares will be satisfied with those  Issue  shares  not  taken  up  by
qualifying shareholders. The Issue will close at 3pm on Monday 6 April 2009.

The  Directors  intend  to take up some or all of their Rights and, subject to  sufficient  shares
being  made  available  and no unforeseen circumstances, four Directors intend  to  subscribe  for
excess  shares. In total the Directors are intending to subscribe for 428,577 new ordinary  shares
representing approximately £150,000 and 76% of the total Issue shares.

The new funds raised will be used to make new investments. The Company has sufficient present cash
resources to cover estimated outgoings for the next two years. Given the present economic  outlook
the  Directors  see limited prospects for realising many of the Company's investments  during  the
next  eighteen  months  and take the view that the Company's present cash  resources  need  to  be
preserved  to cover outgoings during this period. The Directors believe that the market conditions
which  make realisations unlikely are also those which present good investment opportunities.  The
new funds raised will be used to invest in such opportunities.



ST HELEN'S PRIVATE EQUITY PLC                  TEL: 020 7628 5582
Hamish Williams

FISHER CORPORATE PLC                           TEL: 020 7388 7000
Gary Miller

Contact Information

  • St Helens Private Equity Plc