Acquisition / Issue of Equity (9285W)
29 November 2010 - 6:00PM
UK Regulatory
TIDMSCEL
RNS Number : 9285W
Sceptre Leisure PLC
29 November 2010
Sceptre Leisure Plc
("Sceptre" or the "Company")
Acquisition of the assets of RV Smith
Sceptre, one of the leading suppliers of amusement machines in
the UK, is pleased to announce that it has acquired the machine
assets and operations of RV Smith (Leisure) Limited, a southern UK
based supplier of amusement machines. The assets being purchased
comprise 925 machines in 277 leisure sites. These will be
integrated into Sceptre's existing nationwide depot network
consolidating Sceptre's increasing market position in the south of
England. This acquisition follows on from that of Australian 8 Ball
Limited in December 2009, and underlines Sceptre's ability to
identify and consolidate selected acquisitions in a quick and
efficient manner.
The total consideration payable for the assets is GBP1.2
million, to be satisfied by a cash payment of GBP800,000 from the
Company's existing resources and the issue of 1,444,043 new
ordinary shares at 27.7p to the vendors. These ordinary shares will
rank pari passu with existing Ordinary Sceptre shares and represent
approximately 2.6% of the total issued share capital of the
Company. The vendors have undertaken not to dispose of their new
ordinary shares for a minimum period of 6 months following
Admission other than in limited circumstances. Application has been
made for admission of the ordinary shares to trading on AIM.
Admission is expected to occur on 3 December 2010.
Ken Turner, CEO of Sceptre Leisure said,
"This acquisition further strengthens and consolidates our
footprint in southern England. It builds on our national capability
and after swift integration with the rest of our network will
enable us to improve even further the market leading service we
offer our customers."
29 November 2010
Enquires
Sceptre Leisure plc
Ken Turner 01772 694242
Seymour Pierce (NOMAD)
Sarah Jacobs 0207 107 8000
College Hill
Matthew Smallwood / Jamie Ramsay 0207 457 2020
This information is provided by RNS
The company news service from the London Stock Exchange
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