RNWH Renew Holdings Plc

TIDMRNWH

RNS Number : 6787H

Renew Holdings PLC

21 May 2014

Renew Holdings plc

("Renew" or the "Group")

Acquisition of Clarke Telecom Limited

Further to the statement released on 29 April 2014 concerning the acquisition of Clarke Telecom Limited ("Clarke"), Renew (AIM: RNWH), the Engineering Services Group supporting UK infrastructure, announces that it has now acquired the remaining shares in Clarke for a cash consideration of GBP5.1m and now owns the entire issued share capital of Clarke. The total consideration paid was GBP17m in cash. The acquisition has been funded from the Group's cash resources and a four year term loan of GBP12m provided by HSBC Bank plc.

Enquiries:

 
 Renew Holdings plc                                                        Tel: 0113 281 4200 
 Brian May, Chief Executive 
 John Samuel, Group Finance 
  Director 
 
 Numis Securities Limited                                                  Tel: 020 7260 1000 
 Stuart Skinner (Nominated 
  Adviser) 
 James Serjeant (Corporate 
  Broker) 
 
 Walbrook PR                                       Tel: 020 7933 8780 or renew@walbrookpr.com 
 Paul McManus                                                              Mob: 07980 541 893 
 Bob Huxford                                                               Mob: 07747 635 908 
 

About Renew Holdings plc

Engineering Services, which now accounts for over 75% of Group revenue and 85% of operating profit, focuses on the key markets of Energy (including Nuclear), Environmental and Infrastructure, which are largely governed by regulation and benefit from non-discretionary spend with long-term visibility of committed funding.

Specialist Building focuses on the High Quality Residential and New Build Affordable Housing markets in the South of England.

For more information please visit the Renew Holdings plc website: www.renewholdings.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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