UTC will invest £126.5m ($206.3m) by subscribing to 84.3 million new Clipper shares at £1.50 each, representing 39.3% of the Enlarged Issued Share Capital of Clipper.
UTC will also launch a partial cash offer to purchase up to 21.8 million Clipper shares from existing shareholders at a price of £1.80 per share, which will increase its ownership of the enlarged issued share capital up to approximately 49.5%.
