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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Adl | LSE:AD. | London | Ordinary Share | GB0005739999 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 50.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
20 September 2005 ADL plc ("the Company") Additional Listing On 4 July 2005 the Company entered into an agreement with the Vendors of Newsham House Limited to vary the terms of the £500,000 deferred consideration payable under the purchase and sale contract dated 19 January 2004. The terms were changed to £400,000 payable on grant of planning permission for four dwellings with a further £100,000 payable if planning approval is received for a fifth dwelling before 4 July 2007. The original terms of the purchase and sale contract dated 19 January 2004 were summarized in the Company's AIM admission document of the same date. Planning Permission for four dwellings at Newsham House was granted by the City of Gloucester on 6 September 2005. As a result, the Company announces that 1,000,000 new Ordinary Shares of 5p each ("New Ordinary Shares") have been issued and allotted in satisfaction of the first £400,000 of the amended deferred consideration. Application has been made to the London Stock Exchange for the New Ordinary Shares, which will rank pari passu with the existing Ordinary Shares in issue, to be admitted to trading on AIM, and admission is expected to become effective on 26 September 2005. William Jeremy Davies, a vendor of Newsham House Limited and the Managing Director of the Company, will receive 700,000 of the 1,000,000 New Ordinary Shares of 5p each, which will increase his shareholding in the Company to 4,944,520 Ordinary Shares of 5p each representing 50.02% of the enlarged share capital of 9,885,694 Ordinary Shares of 5p each. This increase in Mr Davies' shareholding was whitewashed for the purposes of Rule 9 of the City Code on Takeovers and Mergers in the offer document relating to the Company dated 19 January 2004. The Company is in discussions with a number of parties relating to the sale of the land with planning permission for four dwellings. The proceeds, when received, will be used to reduce the Company's indebtedness with Fortis Bank. The Company is applying for planning permission for the fifth dwelling. Enquiries: Richard Ellert, Commercial Director ADL plc 0113 239 2957 END
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