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IIR Holdings Acquisition

On 1 June 2005, Informa announced the proposed acquisition of IIR Holdings Ltd for a cash consideration of US$1.4 billion (£768 million). Informa also announced a Rights Issue to raise £311 million, net of expenses, which was used to part finance the acquisition of IIR Holdings Ltd. A new committed debt facility of £1,250 million financed the rest of the acquisition. The Rights Issue had an issue price of 265 pence per new ordinary share which represented a discount of approximately 35% to the closing middle market price of 407 pence per ordinary share on 31 May 2005. The basis for the Rights Issue was 2 new ordinary shares for every 5 ordinary shares held by qualifying shareholders, which 122,046,508 new ordinary shares being offered.

Shareholder approval was attained on 30 June 2005 for the acquisition, which was finalised on 7 July 2005.

Proposed Acquisition of IIR – EGM results (pdf) [78kb]

Proposed Acquisition of IIR and Rights Issue (updated circular to shareholders) (pdf) [500kb]

Completion of Acquisition of IIR (press release) (pdf) [73kb]