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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Aspen Energy | LSE:ACEP | London | Ordinary Share | GB00B17M5331 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 4.65 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9577F Libertas Capital Group PLC 10 July 2006 10 July 2006 LIBERTAS CAPITAL GROUP plc PART REALISATION OF FIXED ASSET INVESTMENT INTO CASH Libertas Capital Group plc (AIM: LBR) ("Libertas Capital" or "the Company"), the financial services firm, is pleased to announce that Aspen Clean Energy plc ("Aspen"), a company in which Libertas Capital has an interest of 30.2%, has agreed at an Extraordinary General Meeting that, subject to Court approval, cash will be returned to shareholders as a result of the disposal of its trading subsidiary. The capital reorganisation of Aspen will result in a cash payment of 5.9p for each ordinary share owned. Libertas Capital holds 51,228,124 ordinary shares in Aspen, which were included within fixed assets investments at 31st December 2005 at the issue price of 10p each. Subject to court approval being obtained by Aspen, Libertas Capital will receive in August #3.02m in cash. As the result of the capital reduction in Aspen's shares from 169,450,000 ordinary shares to 69,474,500 ordinary shares, Libertas Capital's holding will reduce to 21,003,530 ordinary shares representing 30.2% of Aspen's issued shares capital. Aspen will be a shell company holding some #4m in cash, including some #1.1m held in an escrow account to cover any warranty claims that may arise from the disposal. The Directors of Aspen have stated that they consider that it is unlikely that any claim will arise under the warranties. The Directors of Aspen intends to seek further acquisitions. For Libertas Capital, whilst this transaction has no profit effect upon the trading results as the redemption of the Aspen shares is at an effective price of 10p per share (being the price at which the shares were originally issued by Aspen), it has a significant and positive cash flow impact. Commenting on the announcement, Jakob Kinde, Executive Chairman of Libertas Capital, said: "We are delighted with the part realisation of this investment which demonstrates our skills in turning our equity investments into cash. This will enhance further Libertas Capital's continued expansion and its ability to capitalise on opportunities in the interests of its shareholders" For further information please contact: Libertas Capital Group plc +44(0)20 7569 9650 Jakob Kinde, Executive Chairman Henry Okereke, Chief Executive Shore Capital +44(0)20 7408 4090 Guy Peters Grant Thornton +44(0)20 7383 5100 Graeme Thom/ Fiona Owen Buchanan Communications +44(0)20 7466 5000 Charles Ryland /Mary-Jane Johnson Notes to Editors About Libertas Capital Group plc Libertas Capital is a UK-based financial services firm offering its clients a full range of dedicated independent Corporate Finance Advisory, Research and Distribution services. Corporate Finance services include advice on M&A, public and private fund raising, private equity encompassing development capital, MBOs and MBIs, valuation and exit strategy. In the Securities business Libertas Capital offers research to corporate and institutional clients, via Equity Growth Research and Libertas Capital Research, over a global distribution network. Libertas Capital is focused on the small to mid cap market in the UK, Northern Europe, the Nordic region, the US and Asia where the Group has gained widespread experience and developed strong relationships. Libertas Capital concentrates primarily on growth companies across a number of industry sectors with a particular focus on environmental sciences, natural resources, technology (software and business services) and medical technology. This information is provided by RNS The company news service from the London Stock Exchange END MSCEBLFFQDBZBBF
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