Acquisition
07 Octobre 2003 - 9:00AM
UK Regulatory
RNS Number:5963Q
Darwen Capital PLC
07 October 2003
FOR IMMEDIATE RELEASE 7 OCTOBER 2003
DARWEN CAPITAL PLC
ACQUISITION OF SCOTT TOD DEVELOPMENTS LIMITED
On 2 October 2003, Darwen Capital plc ("Darwen") announced that it had entered
into an agreement with A Cohen & Co plc ("Cohen") under which Darwen acquired
20% of the issued ordinary share capital of Scott Tod Developments Limited
("Scott Tod") for #525,000. This transaction was completed on 6 October 2003.
The Directors of Darwen are pleased to announce that agreement has been reached
with the other shareholders in Scott Tod conditionally to acquire the remaining
80% of the issued share capital of Scott Tod.
Dealings on AIM in Darwen's ordinary shares remain suspended pending publication
of a circular to shareholders containing, inter alia, full details of the
acquisition and notice of an extraordinary general meeting at which
shareholders' approval of the acquisition will be sought. A further announcement
will be made in due course.
For further information:
Darwen Capital plc
David Massie, Executive Chairman
020 7647 1700
Beattie Financial
Brian Coleman Smith / James Chandler / Amanda Sheehy
020 7398 3300
Background note:
Darwen was admitted to trading on AIM in November 2002, with the stated prime
objective to select investments having the potential to show a good return to
its shareholders. The Directors of Darwen believe that the proposed acquisition
of Scott Tod will meet this objective, albeit through a different approach to
that initially considered.
Scott Tod, which was founded in 1978, distributes and maintains automatic teller
machines and is also involved in the development and manufacture of card vending
machines and the operation of banking systems. Its customer base includes pubs,
amusement arcades, bingo halls, car parks and other leisure operators, and
hospital and public health sector sites.
This information is provided by RNS
The company news service from the London Stock Exchange
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