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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Widney | LSE:WDNY | London | Ordinary Share | GB0009665778 | 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% | 2.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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RNS Number:8890Z
Widney PLC
09 July 2007
Widney PLC
Widney Pressings
Widney plc announced following receipt of shareholder approval on 20 April 2007,
the sale of the share capital of Widney Pressings Limited ("Pressings") for #1.4
million plus the assumption of debt and the sale of surplus plant and machinery
at Northampton for #750,000.
Whilst Pressings had been an excellent acquisition, the priority at the time was
to reduce Group indebtedness. Following completion of the sale of two freehold
properties for #7 million, the Group is debt free apart from a small working
capital facility.
Despite extensive negotiations to safeguard the interests of employees and
customers, the purchaser was unable to provide adequate assurances in respect of
the funding of the acquisition. As a result, Pressings will remain a core part
of the Widney Group and develop new business in automotive presswork and
construction equipment components.
9 July 2007
Enquiries:
Widney Plc Tel: 0121 327 5500
Joe Grimmond, Chairman
Graham Errington, Finance Director
College Hill Tel: 020 7457 2020
Richard Pearson
This information is provided by RNS
The company news service from the London Stock Exchange
END
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