Waterford Wedgwood Stockholders Subscribe 88% Of Rights Issue

Waterford Wedgwood reported earlier in the year that valid acceptances were received from qualifying stockholders for 188,149,973 rights issue units, representing an aggregate take-up of 88.07% of the units offered. The EUR 38.5M rights issue was launched on 14 November 2003 and is part of a EUR 203.5M financial restructuring, fully underwritten by Davy Stockbrokers, Waterford Wedgwood directors, including Sir Anthony O'Reilly and Peter John Goulandris, subscribed for their full entitlements under the rights issue. Davy Stockbrokers has procured subscribers for all of the remaining 11.93% including the entitlements of overseas shareholders, at EUR 0.21/unit, completing the rights issue.