Danka plans public offering of American Depositary Shares.ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Jan. 19, 1996--Danka Business Systems PLC (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DANKY) announced that it has filed Friday a Form S-3 Registration Statement with the Securities and Exchange Commission. Danka is expected to offer to the public approximately 4 million American Depositary Shares American Depositary Share (ADS) Foreign stock issued in the US and registered in the ADR system. ("ADSs") and provide the underwriters an over allotment option to purchase approximately 657,000 ADSs. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from the ADSs to be sold by the company will be used to repay certain borrowings outstanding under several credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities primarily used to finance the company's acquisition of Infotec Europe B.V. In addition to the ADSs to be offered by the company, executive officers Mark A. Vaughan-Lee, chairman, Daniel M. Doyle, chief executive, and David C. Snell, finance director, are expected to sell 40,000, 300,000 and 40,000 ADSs, respectively, pursuant to the registration statement. The managing underwriters for the offering are Prudential Securities Inc., Robert W. Baird Robert Wilson Baird (born April 1, 1883) helped found the financial services firm that bears his name and led it for more than 40 years. Baird’s father was a professor of Greek literature at Northwestern University in Evanston, Illinois, where Baird grew up. & Co. Inc., Salomon Brothers
Salomon Brothers was a Wall Street investment bank. Inc. and Smith Barney Inc. The offering is expected to be made principally in the United States, although a portion of the ADSs may be sold in the form of underlying Ordinary Shares to qualified European investors. Danka Business Systems PLC, headquartered in St. Petersburg, is one of the largest independent suppliers of photocopiers, facsimiles and other automated office equipment in North America and Europe. The registration statement relating to the ADSs to be filed with the Securities and Exchange Commission has not yet become effective. These securities may not be sold, nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective and unless pursuant to the prospectus contained within the registration statement. This shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A copy of the prospectus relating to the proposed offering meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained from (i) Prudential Securities Inc., One New York Plaza One New York Plaza is an office building in New York City, built in 1969, and is located at the intersection of South and Whitehall Streets (). It is the southernmost of all Manhattan skyscrapers. , New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , N.Y. 10292, (ii) Robert W. Baird & Co. Inc., 777 East Wisconsin Ave., Milwaukee, WI 53202, (iii) Salomon Brothers Inc., 7 World Trade Center, New York, N.Y. 10048, or (iv) Smith Barney Inc., 388 Greenwich Street, New York, N.Y. 10013. CONTACT: Danka Business Systems PLC, St. Petersburg William T. Freeman, 813/576-6003 or Paul G. Dumond, 011-44171-603-1515 (London) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion