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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tellings Gldn | LSE:TGM | London | Ordinary Share | GB0033384180 | ORD 7P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 42.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TELLINGS GOLDEN MILLER GROUP PLC ACQUISITION The board of Tellings Golden Miller Group plc (the "Company") announces that it has today entered into an agreement to purchase certain business assets and related business operations from Wiltax Buses Limited ("Wiltax"). The business acquired relates to the entire bus operations of Wiltax outside the London area and of its coach operations. The transaction involves the transfer of 24 staff and 24 vehicles from Wiltax which will continue to be based at Wiltax's existing depot at New Haw in the Canal Bridge Industrial Estate. The Company will also take over this site. The vehicles will be maintained from the Company's new engineering and maintenance base at Heathrow airport. As part of the deal, Wiltax will change its name to Randomquick (2007) Limited. In the year ended 31 October 2006, the unaudited accounts of Wiltax reported a turnover of £1,018,159 and profit after tax of £38,382. Net assets as at 31 October 2006 were £75,540. The consideration for the acquisition, to be satisfied in cash, will be equivalent to the net assets of Wiltax which are estimated to be approximately £35,000 on completion. The Company has acquired this business because it fits well with its strategy of strengthening its contract based revenues and because of the strong market position Wiltax enjoys in school transportation and rail replacement work. Stephen Telling, Chairman of the Company, commented: "The acquisition of this business fits in well with our existing operations and identified synergies and resource utilisation improvements will enable us to build on the growth that Wiltax has enjoyed so far. I am delighted to welcome the Wiltax staff and passengers to the Tellings Golden Miller Group." Enquiries: Stephen Telling Tellings Golden Miller Group Plc Tel: 020 8757 4700 Tony Rawlinson, Nominated Adviser City Financial Associates Limited Tel: 020 7090 7800 END
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