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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Freedom4 Comm. | LSE:FFC | London | Ordinary Share | GB0005846018 | ORD 0.1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.75 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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RNS Number:4601R
Freedom4 Communications PLC
02 April 2008
2 April 2008
FREEDOM4 Communications plc
(the "Company")
Completion of Disposal
Further to the announcement on 14 March 2008, the Board of the Company today
announces that it has completed the sale of its Hosting and Network Division to
a wholly owned subsidiary of Oakley Capital Private Equity L.P, Host Europe WVS
Limited (the "Buyer") for a total consideration of approximately £120 million
(on an Enterprise Value basis).
The final consideration has been satisfied by £92.5 million in cash, £17.5
million in Loan Notes (issued by a wholly owned subsidiary of Oakley L.P.) and
the assumption by the Buyer of certain of the Company's debts/liabilities.
For further details, contact:
FREEDOM4 Communications plc Tel: 0845 200 1122
Mike Read, Chief Executive
Stewart Porter, Finance Director
Collins Stewart, Nomad to the Company Tel: 020 7523 8350
Hugh Field / Jonny Sloan
Chris Wells
UBS Tel: 020 7568 8304
Craig Calvert
Financial Dynamics Tel: 020 7831 3113
Juliet Clarke / Edward Bridges
The definitions used in this announcement are the same as the ones used in the
Circular to Shareholders dated 15 March 2008 (the "Circular").
Collins Stewart Europe Limited, which is authorised and regulated by the
Financial Services Authority, is acting exclusively for FREEDOM4 Communications
plc and no one else in connection with the Tender Offers and will not be
responsible to any person other than the Company for providing the protections
afforded to customers of Collins Stewart Europe Limited or for providing advice
in relation to the Tender Offers or any matter referred to or contained in the
Circular.
UBS Investment Bank, which is authorised and regulated in the United Kingdom by
the Financial Services Authority, is acting exclusively for FREEDOM4
Communications plc and no one else in connection with the Disposal and will not
be responsible to any person other than the Company for providing the
protections afforded to customers of UBS Investment Bank or for providing advice
in relation to the Disposal or any matter referred to or contained in the
Circular.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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