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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Rok | LSE:ROK | London | Ordinary Share | GB00B1WL0527 | ORD 2P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 18.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:4962R Rok property solutions PLC 30 October 2003 Date: 30 October 2003 On behalf of: Rok property solutions plc ("Rok") For immediate release Rok property solutions plc Rok Announces Strategic Acquisition Rok property solutions plc, the listed property solutions group, today announced a strategic acquisition that significantly expands the Group's geographical presence in the UK. In line with the Group's strategy of expanding across Northern England, Wales and Scotland, the Group has agreed to acquire the Manchester, Glasgow, Teesside, Cardiff and Ellesmere Port assets and certain contracts from Nick Edwards and Nick Dargan of Deloitte & Touche LLP, the joint administrators of Ballast PLC. The new regional offices bring the number of local outlets around the UK from which Rok operates from 15 to 20. Rok is paying up to #2.0 million in cash for certain assets and construction contracts and the consideration is dependent upon the novation of the construction contracts. Rok is not inheriting historical liabilities other than those associated with the contracts. The maximum value of the net assets to be acquired at 15 October 2003 was #7.5 million. The contracts being novated are entirely construction related and, dependent upon novation, would add a maximum of #48 million of sales to Rok's current order book. The contracts generated a gross profit of #0.5 million in the year ended 31 December 2002. Commenting on the acquisition, Garvis Snook, Chief Executive of Rok, said: "We are delighted to have secured this acquisition for the Group. It represents a major strategic stride for Rok in achieving its goal of offering its unique develop, build, maintain property solutions across the length and breadth of the UK. "We have demonstrated our ability to transform underperforming businesses with strong regional presence by empowering local teams linked by a corporate culture through our acquisition of businesses such as Llewellyn. The trade and assets we have agreed to acquire from Deloitte & Touche have a strong presence in sectors such as social housing where we can leverage our existing expertise to extend the Rok brand into new areas in the UK." Enquiries to: Rok property solutions plc Tel: 01293 649 400 Garvis Snook, Chief Executive Ashley Martin, Group Finance Director Redleaf Communications Tel: 020 7955 1410 Emma Kane Nick Lambert Notes to Editors * Rok is not acquiring any of the PFI contracts, Southern UK construction operations, or any of services businesses of Ballast in the UK. * Rok is fully listed on the London Stock Exchange. * Rok was founded in 1939 and joined the Official List in 1988. * Rok's principal activities are to develop, build and maintain specially tailored solutions to meet each client's specific property needs. This information is provided by RNS The company news service from the London Stock Exchange END ACQEALEEDAADFFE
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