We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Rotala Plc | LSE:ROL | London | Ordinary Share | GB00B1Z2MP60 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 63.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMROL
RNS Number : 0206P
Rotala PLC
25 August 2017
RNS
25 August 2017
Rotala Plc
("Rotala" or the "Company" or the "Group")
Further re. Fund Raise and Acquisitions
Further to its announcement on 28 July 2017 regarding a Placing and Subscription to raise GBP3.5 million (before expenses) to fund acquisitions, Rotala announces that it has now entered into a conditional agreement in respect of the Proposed Acquisition, being the acquisition by the Company of certain assets from Go Goodwins (Coaches) Limited (the "Goodwins Acquisition").
Pursuant to the terms of a business purchase agreement ("BPA") Rotala has agreed to acquire a bus and minibus services business which comprises 18 buses and a freehold property in the Manchester area, together with goodwill and the benefit of TfGM bus service contracts, for a cash consideration of GBP692,500 payable in full on completion of the BPA. The total expected cost of the Goodwins Acquisition is approximately GBP1 million, including the necessary working capital and capital expenditure associated with the acquisition, which will be satisfied from the net proceeds of the Subscription.
The Directors believe that the Goodwins Acquisition will enable Rotala to significantly grow its operations in the Manchester area and potentially double its bus capacity. No additional overheads are expected to be required as a result of the acquisition and the Directors believe that the Company will benefit from additional sales, gross profit and EBITDA contributions of approximately GBP2.0 million, GBP0.4 million and GBP0.2 million respectively under Rotala's ownership, in the first full year following completion of the Proposed Acquisition.
Completion of the BPA is expected to occur on 31 August 2017, following compliance by the target company with its obligations under the Transfer of Undertakings (Protection of Employment) Regulations 2006.
Unless otherwise defined, capitalised terms in this announcement shall have the same meaning as those within the 'Definitions' section of the Company's RNS released on 28 July 2017.
Rotala Plc 0121 322 2222 John Gunn, Chairman Simon Dunn, Chief Executive Kim Taylor, Group Finance Director Nominated Adviser & Joint Broker: Cenkos Securities plc 020 7397 8900 Stephen Keys/Callum Davidson (Corporate Finance) Michael Johnson/Julian Morse (Corporate Broking) Joint Broker: Dowgate Capital Stockbrokers Ltd 0203 903 7715 David Poutney/James Serjeant (Corporate Broking)
This information is provided by RNS
The company news service from the London Stock Exchange
END
FUREANPSASDXEEF
(END) Dow Jones Newswires
August 25, 2017 05:55 ET (09:55 GMT)
1 Year Rotala Chart |
1 Month Rotala Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions