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Share Name | Share Symbol | Market | Type |
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Snowline Gold Corp | CSE:SGD | CSE | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 5.50 | 4.00 | 5.50 | 80 | 01:00:00 |
RNS Number:3904J SectorGuard PLC 31 March 2003 SectorGuard Plc (or 'the Company') ACQUISITION OF UK GUARDING Highlights: * Acquisition of the London division of UK Guarding Services Ltd * Group turnover increases by another #1.2 million * Second acquisition in 2003 * Part of SectorGuard's active on-going expansion strategy SectorGuard Plc, the AIM listed manned guarding provider has acquired the London division of UK Guarding Services Ltd for an initial payment of #90,000 in cash. Further consideration will be payable over the next 12 months dependant on the performance of the acquired contracts. The London division of UK Guarding, which has a #1.2 million turnover, provides comprehensive manned guarding services in three main sectors; Local Housing Authorities, Law Courts and distribution businesses. The Local Housing Authority and the distribution businesses are synergistic with the Company's existing client base whilst the Law Court contracts provide the Company with valuable entry points to this sector. . SectorGuard Chief Executive David Marks said: "UK Guarding boasts a solid client base with long term contracts in key areas. Importantly the acquisition enables us to extend our work in the residential arena where we have previously had notable success. Residential security is becoming a major issue and it is our aim to be at the forefront of this rapidly expanding market. Furthermore the acquisition enhances our presence in London and the provision of security to the Law Courts not only opens yet another avenue of business but also further broadens our service offering. The security industry is an extremely fragmented sector with hundreds of smaller companies operating throughout the UK. Our growth strategy draws together these smaller enterprises under one roof, cutting overheads and running costs whilst retaining high service standards. We remain committed to exploring all potential opportunities in the provision of manned guarding services. We already have an established reputation with many blue-chip firms and local authorities and aim to replicate this success in alternative areas such as the judiciary . This is our second acquisition this year and we are in talks with other potential targets." Following the announcement of the Company's results for the year ended 30 September 2002, wherein the Company reported Operating Profit of #595,000 and Profit before Tax of #502,000, the conditional bonus issue of 25,000,000 ordinary shares in the Company has become unconditional and they are being issued to the founder shareholders of the Company as disclosed in the Company's prospectus dated 8 March 2002. Under the conditional bonus issue, David Marks will be issued with 7,500,000 new ordinary shares and the Morton 1998 Trust, of which David Marks' minor children are beneficiaries, will be issued with 3,000,000 new ordinary shares. Following such issue, David Marks will be interested in 36,750,000 ordinary shares, representing 19.9 per cent. of the issued share capital of the Company. Mr B Myers and Mr D Sullivan, former Directors of the Company, are each being issued with 3,750,000 new ordinary shares under the bonus issue. Following such issue they will each be interested in 13,125,000 ordinary shares representing 7.1 per cent of the issued share capital of the Company. Application has been made for the 25,000,000 new ordinary shares to be issued under the bonus issue to be admitted to trading on AIM. Dealings are expected to commence on AIM in those shares on 3 April 2003. Application has also been made for 16,190,476 new ordinary shares to be admitted to trading on AIM. These shares have been issued by way of a placing to raise #340,000 before expenses. Dealings are also expected to commence on AIM in those shares on 3 April 2003. SectorGuard, founded in 1998, supplies manned guarding solutions for an expanding range of clients including Shell International, The Bank of America, The International Press Centre, the London Borough of Camden, CGNU and Sun Life. Its services encompass static guards, mobile patrols and key holding and alarm response. ENDS Contacts: David Marks SectorGuard Plc Tel: 01279 724 777 Hugo de Salis/Isabel Crossley St Brides Media Tel: 020 7242 4477 This information is provided by RNS The company news service from the London Stock Exchange END ACQBIGDXRXDGGXI
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