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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Straight | LSE:STT | London | Ordinary Share | GB0033695486 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 77.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSTT RNS Number : 3476M Straight PLC 28 January 2009 Date: 28 January 2009 On behalf of:Straight plc ("Straight" or "the Group") Embargoed until:0700hrs Straight plc Acquisition of Harcostar Garden Products Straight plc (AIM: STT), the recycling products and services group, announces the acquisition of all the assets and trade of Harcostar Garden Products from Harcostar Drums Limited for a consideration of GBP400,000 in cash. The consideration is to be paid in two instalments: GBP250,000 to be paid immediately and GBP150,000 on 1 April 2009. Harcostar Garden Products is a long established premium brand providing water butts, compost bins, watering cans and accessories to the trade sector in the UK and Europe. For the year ended 31 December 2008, Harcostar Garden Products reported turnover of GBP1.04m with gross profit of GBP0.38m. The Group believes that the acquisition will be earnings enhancing for the financial year ended 31 December 2009. It also believes that the acquisition will offer considerable scope to expand and develop the Harcostar range, cross-sell its existing products and enable it to benefit from Harcostar's well established relationships and distribution channels in the UK and Europe. Commenting on the acquisition, Jonathan Straight, Chief Executive of Straight plc said: "This acquisition provides us with the addition of a premium brand to our portfolio which will compliment our existing product range. We also believe it will allow us to benefit from Harcostar's excellent relationships in the UK and Europe". For further information, please contact +-----------------------------------------------+---------------------------+ | Straight plc | | +-----------------------------------------------+---------------------------+ | James Newman, Chairman | 07850 672 727 | | Jonathan Straight, Chief Executive | 0113 245 2244 | +-----------------------------------------------+---------------------------+ | | | +-----------------------------------------------+---------------------------+ | Panmure Gordon | | +-----------------------------------------------+---------------------------+ | Andrew Godber / Katherine Roe | 0207 459 3600 | +-----------------------------------------------+---------------------------+ | | | +-----------------------------------------------+---------------------------+ | Redleaf Communications | straight@redleafpr.com | +-----------------------------------------------+---------------------------+ | Paul Dulieu / Sam Robbins | 0207 566 6700 | +-----------------------------------------------+---------------------------+ Notes to Editors * Straight plc was established in 1993, by Jonathan Straight, to supply container solutions for source separated waste. Initially one man and a desk, the company grew to become the UK's leading supplier of kerbside recycling boxes as well as a key supplier of other types of waste and recycling container solutions. * Following sustained growth, Straight joined AIM in 2003 with a view to fuelling further growth. * In 2005, Straight acquired Blackwall Limited, the UK's largest supplier of home composters and water butts. Since integrating the two businesses, Straight now provides a wide range of waste and recycling solutions to local authorities, the waste industry and general businesses. Through the Blackwall brand Straight delivers environmental garden products directly to end users in partnership with local authorities and utilities. * Further information about the company and its products can be found at: www.straight.co.uk This information is provided by RNS The company news service from the London Stock Exchange END ACQCKOKQOBKDADB
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