Directors' Interests

 

TIDMNBI 
 
RNS Number : 6847U 
Northbridge Industrial Services PLC 
29 June 2009 
 

For immediate release29 June 2009 
 
 
Northbridge Industrial Services Plc. 
("Northbridge", "the Group" or "the Company") 
 
 
DIRECTORS' INTERESTS 
 
 
The Board of Northbridge announced the result of its successful Open Offer on 
Friday 26 June 2009 which raised GBP1.5 million net of expenses by the issue of 
1,382,108 Offer Shares.  Admission of the 1,382,108 Offer Shares to trading on 
AIM became effective and dealings commenced at 8.00 a.m. this morning. 
 
 
The Directors interests in the voting share capital voting capital of the 
Company following Admission of the Offer Shares to trading on AIM are as 
follows: 
 
 
+-------------+--------------------+------------------------+ 
| Director    |  Number of shares  | % of the voting share  | 
|             |                    |        capital         | 
+-------------+--------------------+------------------------+ 
| P Harris*   |      550,000       |          6.15          | 
+-------------+--------------------+------------------------+ 
| E Hook      |      266,250       |          2.98          | 
+-------------+--------------------+------------------------+ 
| A Mehta     |      25,147        |          0.28          | 
+-------------+--------------------+------------------------+ 
| J W Gould   |      250,750       |          2.80          | 
+-------------+--------------------+------------------------+ 
| M Dodson    |      281,250       |          3.15          | 
+-------------+--------------------+------------------------+ 
| D Marshall  |         -          |           -            | 
+-------------+--------------------+------------------------+ 
| Total       |     1,373,397      |         15.36          | 
+-------------+--------------------+------------------------+ 
 
 
*In addition to Peter Harris' own beneficial shareholding of 550,000 Ordinary 
Shares, through a power of attorney in his favour he is able to exercise voting 
control over the shares beneficially owned by his mother amounting to a further 
250,000 Ordinary Shares (including 50,000 Offer Shares taken up in the Open 
Offer) amounting to 2.8 percent of the voting share capital of the Company. 
 
 
Two Directors of the Company, Peter Harris and Jim Gould subscribed for 25,000 
Offer Shares and 14,750 Offer Shares respectively, in excess of the irrevocable 
undertakings they gave when the Open Offer was announced. 
 
 
Western Selection PLC, which prior to the Open Offer held 1,500,000 Ordinary 
Shares representing 19.8 percent of the voting share capital, has acquired a 
further 375,000 Offer Shares and is now interested in aggregate in 1,875,000 
Ordinary Shares representing 20.97 percent of the enlarged voting share capital 
of the Company. Due to the number of applications made by shareholders other 
than by those who gave irrevocable undertakings to apply for Offer Shares, 
Western Selection PLC was not required to take up the 363,637 included in its 
irrevocable undertaking. D Marshall, a director of the Company, is also a 
director of Western Selection PLC. 
 
 
Commenting on the results of the Open Offer, Peter Harris, Chairman of 
Northbridge said: 
"We are pleased with the response that our shareholders have shown in supporting 
us with this Open Offer. We will use these funds to expand our hire fleet in 
line with our stated strategy of acquiring and developing rental assets to 
complement further our existing hire equipment activities. 
 
 
"Following the recent strengthening of our business in the Middle East we are 
confident that there is a significant opportunity to grow our operations and 
become a key supplier of industrial hire equipment in that area 
 
 
"We expect to update shareholders on the development of our fleet in due 
course." 
 
 
The definitions used in this announcement, unless otherwise stated, are as 
defined in the circular to shareholders dated 12 June 2009. 
 
 
 
 
For further information 
Northbridge Industrial Services plc 
Eric Hook, Chief Executive Officer01283 531645 
Ash Mehta, Finance Director 
 
 
Cattaneo LLP (Financial Adviser) 
Charles Cattaneo                                                  07774 276512 
Ian Stanway                                                         07837 179502 
 
 
Buchanan Communications                                 020 7466 5000 
Charles Ryland / James Strong 
 
 
Charles Stanley Securities (Nominated Adviser)     020 7149 6000 
Mark Taylor / Freddy Crossley 
 
 
About Northbridge: 
Northbridge Industrial Services was incorporated for the purpose of acquiring 
companies that hire and sell specialist industrial equipment supplying a 
non-cyclical customer base including utility companies, the public sector and 
the oil and gas industries. In particular it will seek to acquire specialist 
businesses that have the potential for expansion into complete outsourcing 
providers. 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 RDSFLMJTMMMTBRL