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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 |
17 January 2006 ADL plc ("the Company") Healthcare Joint Venture ADL, the AIM listed long term healthcare provider, announces that from 1 January 2006 it has entered into a joint venture with Newford Limited ("Newford"), to operate Newford Nursing Home, Milton, Stoke on Trent, Staffordshire. Newford Nursing Home comprises a 40 bed single storey care home with all beds in single rooms with en suite toilets. The Company has entered into a Shareholders' Agreement and subscribed for one "B" share in Newford. This Agreement provides for the first £120,000 of profits per annum to be paid as dividends to the existing shareholder of Newford, with the next £120,000 of profits per annum to be paid as dividends to ADL. Any surplus profits per annum are divided equally between the existing shareholder of Newford and ADL. Jeremy Davies, ADL's Managing Director, has become a director of Newford. The Agreement lasts for an initial period of five years. As a result of this transaction, ADL now owns and operates nine care homes, with 311 operational beds, and manages a further two care homes, with 63 operational beds, on a partnership or joint venture basis. Enquiries: Richard Ellert, Commercial Director ADL plc 0113 239 2957 END
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