Empresaria Group plc Acquisition
Empresaria Group plc
Acquisition of minority stake and issue of equity
The Company announces that application has been made to the London Stock Exchange plc for the admission to trading on AIM of 251,516 new Ordinary Shares of 5p each fully paid, ranking pari passu with the existing ordinary shares ("Ordinary Shares") and dealings are expected to commence on or around 01 July 2009.
These new Ordinary Shares have been allotted as consideration relating to the acquisition of the remaining 25% of Lumley Employment Company Limited ("Lumley") which the Company did not already own. The acquisition of the original 75% stake in Lumley previously was announced on 8 April 2008.
The consideration payments are made pursuant to original share purchase agreements between Empresaria and the minority shareholders of Lumley.
After the acquisition of the minority shareholding, Empresaria will own 100 per cent. of Lumley.