TIDMMEAF
RNS Number : 0652M
Mota-Engil Africa N.V.
11 July 2014
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF
AMERICA, AUSTRALIA, CANADA OR JAPAN OR IN TO ANY OTHER JURISDICTION
WHERE SUCH AN ANNOUNCEMENT WOULD BE UNLAWFUL
11 July 2014
Mota-Engil Africa N.V.
IPO Update
Mota-Engil Africa N.V. (the "Company" or "Mota-Engil Africa")
announces that due to the recent significant deterioration in
market conditions and the resultant impact on investor sentiment,
the Company, its selling shareholder and its Advisors have decided
not to proceed with the IPO of Mota-Engil Africa at this time.
Despite a book of high quality institutional orders within the
announced price range, the aggregate demand was such that a
successful listing and aftermarket could not be assured. The
Company met with investors in Europe, the UK, US and Africa over
the last two weeks, achieving a high conversion of those meetings
into orders, reflecting the quality and future of the African
business.
Events and the performance of equity markets in the last 48
hours meant that the scale of orders was negatively impacted.
The Company remains fully committed to achieving the successful
public offering of Mota-Engil Africa.
ENQUIRIES
Mota-Engil Africa:
Gilberto Rodrigues +27 (0)82 682 0437
Pedro Antelo +351 21 415 8333 or +351 91 867
Joao Vermelho 8771
+351 21 415 8671 or +351 91 953
3402
Sole Global Coordinator of the Global Offer and Joint Bookrunner
of the Institutional Offer
Standard Bank:
Simon Matthews +44 (0)20 3145 8102
Esteban Skare +44 (0)20 3145 8233
Sean Wegerhoff +27 (0)11 721 7081
Joint Bookrunner of the Institutional Offer and Co-Lead Manager
of the Preferential Offer
Espírito Santo Investment
Bank:
Silvia Costa +351 21 319 69 04
Erik Anderson +44 (0)20 7426 4253
FTI Consulting:
Richard Mountain
Nick Hasell +44 (0)20 3727 1374
Forward looking statements
Certain statements contained in this announcement that are not
statements of historical fact, including, without limitation, any
statements preceded by, followed by or including the words
"targets," "believes," "expects," "aims," "intends," "may,"
"anticipates," "would," "could" or similar expressions or the
negative thereof, constitute forward-looking statements,
notwithstanding that such statements are not specifically
identified. Examples of forward-looking statements include, but are
not limited to: (i) statements about the benefits of any
contemplated offering of securities, including future financial and
operating results; (ii) statements of strategic objectives,
business prospects, future financial condition, budgets, projected
levels of production, projected costs and projected levels of
revenues and profits of the Company or its management or board of
directors; (iii) statements of future economic performance; and
(iv) statements of assumptions underlying such statements.
By their nature, forward-looking statements involve risk and
uncertainty, because they relate to future events and
circumstances. Forward-looking statements are not guarantees of
future performance, and the actual results, performance,
achievements or industry results of Mota-Engil Africa's operations,
results of operations, financial position and the development of
the markets and the industry in which it operates or is likely to
operate may differ materially from those described in, or suggested
by, the forward-looking statements contained in this presentation.
In addition, even if the operations, results of operations,
financial position and the development of the markets and the
industry in which Mota-Engil Africa operates is consistent with the
forward-looking statements contained in this announcement, those
results or developments may not be indicative of results or
developments in subsequent periods. A number of factors could cause
results and developments to differ materially from those expressed
or implied by the forward-looking statements including, without
limitation, general economic and business conditions, industry
trends, competition, changes in regulation and currency
fluctuations.
Forward-looking statements may, and often do, differ materially
from actual results. Any forward-looking statements in this
announcement reflect Mota-Engil Africa's current view with respect
to future events and are subject to risks relating to future events
and other risks, uncertainties and assumptions relating to
Mota-Engil Africa's financial position, operations, results of
operations, growth, strategy and expectations. Any forward-looking
statement speaks only as of the date on which it is made. New
factors will emerge in the future, and it is not possible for
Mota-Engil Africa to predict which factors they will be. In
addition, Mota-Engil Africa cannot assess the impact of each factor
on its business or the extent to which any factor, or combination
of factors, may cause actual results to differ materially from
those described in any forward-looking statements.
Mota-Engil Africa and each of Standard Bank, Banco Espírito
Santo de Investimento, S.A., Millennium investment banking, Caixa -
Banco de Investimento, S.A., Banco BPI, S.A., Banco Finantia S.A.,
BNP PARIBAS and Nau Securities Limited (together the "Banks") and
their respective affiliates expressly disclaims any obligation or
undertaking to update, review or revise any forward-looking
statement contained in this announcement whether as a result of new
information, future developments or otherwise.
Important notices
The contents of this announcement have been approved solely for
the purposes of section 21(2)(b) of the Financial Services and
Markets Act 2000 by Standard Bank.
Neither this announcement nor any copy of it may be taken or
transmitted, directly or indirectly, into the United States,
Australia, Canada or Japan or to any persons in any of those
jurisdictions or any other jurisdictions where to do so would
constitute a violation of the relevant securities laws of such
jurisdiction.
This announcement does not constitute or form part of any offer
or invitation to sell or issue, or any solicitation of any offer to
purchase or subscribe for any shares or other securities to any
person in the United States or any other jurisdiction nor shall it
(or any part of it) or the fact of its distribution, form the basis
of, or be relied on in connection with, or act as an inducement to
enter into any contract or commitment whatsoever. The distribution
of this announcement may be restricted by law and persons into
whose possession this announcement, any document or other
information referred to herein comes should inform themselves about
and observe any such restriction. Any failure to comply with these
restrictions may constitute a violation of the securities laws of
any such jurisdiction.
No securities of the Company have been nor will be registered
under the Securities Act or under any securities laws of any state
of the United States and may not be offered or sold in the United
States except pursuant to an exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act
and applicable state laws.
No securities of the Company will be registered under the
applicable securities laws of Canada, Japan, South Africa or
Australia and no such securities may be offered or sold in Canada,
Japan, South Africa or Australia except pursuant to an exemption
from, or in a transaction not subject to, the registration
requirements of the applicable securities laws. There will be no
public offering of securities in Canada, Japan or Australia.
This announcement does not constitute or form part of an offer
to sell or issue or the solicitation of an
offer to buy or subscribe for securities in South Africa and no
public offering of securities will be made in connection with the
Offer in South Africa.
This announcement is directed only at persons in member states
of the European Economic Area who are "qualified investors" within
the meaning of Article 2(1)(e) of EU Directive 2003/71/EC and the
amendments thereto, including Directive 2010/73/EC, to the extent
implemented in the relevant member state.
None of the Banks nor any of their respective subsidiary
undertakings, affiliates or any of their respective directors,
officers, employees, advisers, agents or any other person accepts
any responsibility or liability whatsoever for, or makes any
representation, warranty or undertaking , express or implied, as to
the truth, accuracy, completeness or fairness of the information or
opinions in this announcement (or whether any information has been
omitted from the announcement) or any other information relating to
Mota-Engil Africa, its subsidiaries or associated companies,
whether written, oral or in a visual or electronic form, and
howsoever transmitted or made available or for any loss howsoever
arising from any use of this announcement or its contents or
otherwise arising in connection therewith.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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