Drax Group Plc DRX Results of Placing

  Drax Group Plc (DRX) - Results of Placing

RNS Number : 5715P
Drax Group PLC
25 October 2012


                                Drax Group plc

                   ("Drax" or the "Group" or the "Company")


25 October 2012

                              Results of Placing


Drax Group plc is pleased to announce the successful completion of the placing
announced earlier today (the "Placing").

A total  of 36,474,627  new ordinary  shares of  11 ^16/[29]  pence each  (the 
"Placing Shares")  have  been  placed  by  Deutsche  Bank  AG,  London  Branch 
("Deutsche Bank")  and  UBS Limited  ("UBS")  who  are acting  as  joint  lead 
managers and bookrunners (Deutsche Bank and UBS, together the "Bookrunners" or
"Managers") at a price of 520 pence per Placing Share, raising gross  proceeds 
of approximately  £190  million. The  Placing  Shares being  issued  represent 
approximately 9.99  per cent.  of the  issued ordinary  share capital  of  the 
Company prior to Placing.

Application has been made to the Financial Services Authority for admission of
the Placing Shares to the premium listing segment of the Official List of  the 
UK Listing Authority (the  "Official List") and to  the London Stock  Exchange 
for admission to trading of the Placing Shares on the London Stock  Exchange's 
main market  for  listed securities  (together,  the "UK  Admission").  It  is 
expected that the UK Admission will take  place no later than 8.00a.m. on  30 
October 2012  and that  dealings in  the Placing  Shares on  the London  Stock 
Exchange's main market for listed securities will commence at that time.

The Placing Shares, when issued, will be  fully paid and will rank pari  passu 
in all respects with the existing ordinary shares of the Company including the
right to receive all dividends and other distributions declared, made or  paid 
after the date of issue.

For further information, please contact:

Drax Group plc
Chief Executive: Dorothy Thompson

Finance Director: Tony Quinlan
+44 (0) 1757 618 381

Investor Relations: Michael Scott
+44 (0) 1757 612 230

Media: Melanie Wedgbury
+44 (0) 1757 612 438

Deutsche Bank
James Agnew
+44 (0) 207 547 6860

Hew Glyn Davies
+44 (0) 207 568 2431

Michael Harrison
+44 (0) 207 404 5959

Website: www.draxgroup.plc.uk


The distribution of this Announcement  and the offering, placing and/or  issue 
of the Placing Shares  in certain jurisdictions may  be restricted by law.  No 
action has  been  taken  by the  Company,  the  Bookrunners or  any  of  their 
respective affiliates that  would permit  an offer  of the  Placing Shares  or 
possession or  distribution of  this  Announcement or  any other  offering  or 
publicity material relating to such  Placing Shares in any jurisdiction  where 
action for  that  purpose is  required.  Persons into  whose  possession  this 
Announcement comes are required by the  Company and the Bookrunners to  inform 
themselves about and to observe any such restrictions.

This announcement is for information purposes only and shall not constitute an
offer to sell or issue or the  solicitation of an offer to buy, subscribe  for 
or otherwise acquire securities in any jurisdiction in which any such offer or
solicitation would be unlawful.  Any failure to  comply with this  restriction 
may constitute a violation of the securities laws of such jurisdictions.

This Announcement or any part  of it does not constitute  or form part of  any 
offer to issue or sell, or the  solicitation of an offer to acquire,  purchase 
or  subscribe  for,  any  securities  in  the  United  States  (including  its 
territories and possessions, any state of  the United States and the  District 
of Columbia), Canada, Australia, South Africa, Japan or any other jurisdiction
in which the same would be unlawful. No public offering of the Placing Shares
is being made in any such jurisdiction.

In particular, the securities  of the Company  (including the Placing  Shares) 
have not been and will not be registered under the US Securities Act of  1933, 
as amended (the "Securities Act"), or  under the securities laws of any  state 
or other jurisdiction of the United States, and accordingly the Placing Shares
may not be offered,  sold or transferred, directly  or indirectly, within  the 
United States except pursuant  to an exemption from,  or in a transaction  not 
subject to,  the  registration requirements  of  the Securities  Act  and  the 
securities laws of any relevant state or jurisdiction of the United States.

This document is not being  distributed by, nor has  it been approved for  the 
purposes of section  21 of Financial  Services and Markets  Act 2000  ("FSMA") 
by, a person authorised  under FSMA. This document  is being distributed  and 
communicated to persons in the UK only in circumstances in which section 21(1)
of FSMA does not apply.

This Announcement  may contain  and  the Company  may make  verbal  statements 
containing  "forward-looking  statements"  with  respect  to  certain  of  the 
Company's plans and its current goals and expectations relating to its  future 
financial  condition,  performance,  strategic  initiatives,  objectives   and 
results.  Forward-looking  statements  sometimes  use  words  such  as  "aim", 
"anticipate",  "target",  "expect",  "estimate",  "intend",  "plan",   "goal", 
"believe", "seek",  "may",  "could",  "outlook"  or  other  words  of  similar 
meaning. By  their nature,  all forward-looking  statements involve  risk  and 
uncertainty because they relate to  future events and circumstances which  are 
beyond the control of the Company, including amongst other things, UK domestic
and  global  economic  business  conditions,  market-related  risks  such   as 
fluctuations in interest rates and exchange rates, the policies and actions of
governmental and regulatory authorities, the effect of competition, inflation,
deflation, the timing effect and other uncertainties of future acquisitions or
combinations  within  relevant  industries,  the  effect  of  tax  and   other 
legislation and other regulations  in the jurisdictions  in which the  Company 
and its respective affiliates operate, the effect of volatility in the equity,
capital and  credit markets  on  the Company's  profitability and  ability  to 
access capital and  credit, a  decline in  the Company's  credit ratings;  the 
effect of operational risks; and the loss  of key personnel. As a result,  the 
actual future financial condition, performance and results of the Company  may 
differ materially from  the plans,  goals and  expectations set  forth in  any 
forward-looking statements. Any forward-looking  statements made herein by  or 
on behalf of the Company  speak only as of the  date they are made. Except  as 
required by applicable law or regulation, the Company expressly disclaims  any 
obligation  or  undertaking  to  publish  any  updates  or  revisions  to  any 
forward-looking statements  contained  in  this Announcement  to  reflect  any 
changes in the Company's  expectations with regard thereto  or any changes  in 
events, conditions or circumstances on which any such statement is based.

No statement in this Announcement is intended to be a profit forecast, and  no 
statement in this Announcement should be interpreted to mean that earnings per
share of  the  Company  for  the  current  or  future  financial  years  would 
necessarily match or exceed the historical published earnings per share of the

Deutsche Bank is  authorised under  German Banking  Law (competent  authority: 
BaFin  -  Federal  Financial  Supervising  Authority)  and  regulated  by  the 
Financial Services Authority for the conduct of UK business. Deutsche Bank is
acting exclusively for  the Company  and no one  else in  connection with  the 
Placing and the other matters referred to in this Announcement. Deutsche  Bank 
will not be  responsible to anyone  other than the  Company for providing  the 
protections afforded to clients of Deutsche  Bank nor for providing advice  in 
connection with the Placing and the other matters referred to herein.

UBS is acting exclusively for the Company  and no one else in connection  with 
the Placing and will not regard any  other person (whether or not a  recipient 
of this document)  as a  client in  relation to the  Placing and  will not  be 
responsible to anyone other the Company for providing the protections afforded
to its clients  or for  providing advice  in relation  to the  Placing or  any 
transaction, arrangement or other matter referred to in this Announcement.

The Placing Shares to be  issued or sold pursuant to  the Placing will not  be 
admitted to  trading  on  any  stock exchange  other  than  the  London  Stock 
Exchange. Neither  the  content  of  the Company's  website  nor  any  website 
accessible by hyperlinks on the Company's website is incorporated in, or forms
part of, this Announcement.


                     This information is provided by RNS
           The company news service from the London Stock Exchange


MSCBKPDQQBDDAKB -0- Oct/25/2012 14:47 GMT
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