Water Hall Group Plc General portfolio realisation (6995H)

TIDMWTH

RNS Number : 6995H

Water Hall Group Plc

24 June 2013

For immediate release

24 June 2013

Water Hall Group plc

("Water Hall" or the "Company")

General portfolio realisation

On 7 May 2013 the Board of Water Hall announced that it had increased the Company's equity exposure by increasing its holdings of liquid investment-grade UK equities against a background of improving market conditions. As set out in that announcement the Board has continued to evaluate potential investment opportunities. Subsequently, the Board has been approached with a further investment opportunity in respect of which it is now at an advanced stage of negotiations. Accordingly, in order to ensure that the Company has sufficient immediately available funds to make this new investment should it proceed, and given the background of increasing volatility in world equity markets over the course of the last week, on 21 June 2013 the Board realised through the market its entire general portfolio for an amount in aggregate of GBP562,058 in cash (before expenses), which compares to the book cost of GBP589,886. In addition, the Company sold on the same date its entire holding of 800,000 ordinary shares in Lloyds Banking Group Plc ("Lloyds") for GBP498,399. The net book value of the Company's interest in Lloyds as at 30 June 2012 was GBP248,800.

Together with its other cash balances, the Company's total cash balances including the sale proceeds are therefore approximately GBP1.2 million. In addition to its liquid resources, Water Hall's sole remaining equity investment is its 29.99 per cent. interest in Petards Group plc, a UK-based AIM-traded company whose activities embrace the provision of security and surveillance systems to the transport sector, in particular railways, emergency services sector, specifically the police and the UK Ministry of Defence.

Accordingly, Water Hall's general portfolio and investment(s) in associate(s) following completion of the new investments is set out in the table below. All the investments are in UK listed ordinary shares unless stated otherwise:

 
 General Portfolio      FTSE Sector         Current     % of General 
  Investments                                Market        Portfolio 
                                              Value 
                                              (GBP) 
---------------------  ------------------  --------  --------------- 
 Nil                    n.a.                    Nil              Nil 
 
 Investment(s) in       FTSE Sector         Current   % of Strategic 
  Associate(s)                               Market      Investments 
                                              Value 
                                              (GBP) 
---------------------  ------------------  --------  --------------- 
 Petards Group Plc 
  (AIM)                 Support Services    537,889             100% 
 Total Investment(s) 
  in Associate(s)                           537,889             100% 
 
 

Enquiries:

 
Water Hall Group Plc                 www.waterhallgroupplc.com 
Raschid Abdullah                     Tel: [phone] 
Beaumont Cornish Limited (Nominated  Tel: [phone] 
 Adviser and Broker) 
Roland Cornish / Michael Cornish 
 

ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

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