Result of Open Offer

 

TIDMNBI 
 
RNS Number : 6204U 
Northbridge Industrial Services PLC 
26 June 2009 
 

For immediate release  26 June 2009 
 
 
Northbridge Industrial Services Plc. 
("Northbridge", "the Group" or "the Company") 
 
 
RESULT OF OPEN OFFER 
 
 
The Board of Northbridge is pleased to announce the result of the Open Offer 
which closed at 11.00 am today, Friday 26 June 2009. The Company has raised 
GBP1.5 million net of expenses by the issue of 1,382,108 Offer Shares. 
 
 
The total issued share capital of the Company is now 9,092,257 Ordinary Shares 
of which 152,150 shares are held by the Company as treasury shares. Therefore 
the total issued voting share capital of the Company is now 8,940,107 Ordinary 
Shares. 
 
 
The total number of Offer Shares applied for by Qualifying Shareholders under 
their basic pro rata entitlements and the Excess Application Facility amounted 
to 1,382,108 Offer Shares representing 73.1 percent of the total number of Offer 
Shares available. 
 
 
Application has been made to the London Stock Exchange for the 1,382,108 Offer 
Shares to be admitted to trading on AIM. It is expected that such Admission will 
become effective and that dealings will commence at 8.00 a.m. on 29 June 2009. 
 
 
The definitions used in this announcement, unless otherwise stated, are as 
defined in the circular to shareholders dated 12 June 2009. 
 
 
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." 
 
 
 
 
For further information 
Northbridge Industrial Services plc 
Eric Hook, Chief Executive Officer 01283 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 
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