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Share Name | Share Symbol | Market | Type |
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Metlife | NYSE:MLG | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 25.32 | 0.00 | 00:00:00 |
RNS Number:1965T Maclellan Group PLC 12 December 2003 MacLellan Group plc MacLellan Group plc announces Winning of Industry Awards and Acquisition of Attlaw Security & Protection Limited MacLellan Group plc's operating subsidiary, MacLellan International Limited, has for the second consecutive year won the prestigious Premises and Facility Management Partnership "Overall PFM Best Partnership" Award and "Multi-Service" Award for work done together with its customer, Avesta Polarit Stainless. No other FM company has ever won the Overall PFM Best Partnership Award more than once and MacLellan's operational management team is justifiably proud of this achievement. MacLellan Group plc ("MacLellan") also today announced the acquisition of the entire issued share capital of Attlaw Security & Protection Limited ("Attlaw") for an initial consideration of #5 million to be satisfied as to 50% in cash/ loan notes and 50% by the issue of 3,333,333 MacLellan Group plc ordinary shares; these shares shall rank pari passu with existing ordinary shares in issue save that they shall not rank for the final dividend in respect of the year ending 31 December 2003. Additional consideration is payable of up to a further #7 million (to be satisfied with the same structure as the Initial Consideration) if agreed profit before tax levels for the earn out period through to 31 December 2005 are satisfied. At 31 March 2003, being the date of the latest audited accounts of Attlaw, Attlaw had net assets of #286,324, pre tax profits of #398,413 and its turnover for the year ended on that date, of #10.5 million, showed a 50% increase from the previous year-end. Attlaw's trading performance since 31 March 2003 has continued to show the benefits of further strong turnover growth. It is expected that the P/E multiple for this acquisition will be less than 8 when the final consideration is paid. Application has been made for the consideration shares to be admitted to trading on the Alternative Investment Market and trading in the shares is expected to be Monday 15 December 2003. Commenting on the acquisition, John Foley, Chief Executive of MacLellan said: "We purchase businesses in order to either broaden the range of self performed services available to our customers or quickly penetrate new markets which are of interest to us. This acquisition satisfies both objectives since Attlaw has security industry expertise in the retail, leisure and transport markets and we believe that the combination of MacLellan's proven multi-service capability together with Attlaw's specific security industry expertise will create a winning combination in existing and new markets". For further information please contact: John Foley Stephen Shipley MacLellan Group plc 01905 744400 This information is provided by RNS The company news service from the London Stock Exchange END ACQBBBDDSGBGGXD
1 Year Metlife 5.875 SR Nt Chart |
1 Month Metlife 5.875 SR Nt Chart |
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