Business
Placing & Additional Listing
Placing & Additional Listing.
About this update from Active Energy Group Plc
[{"type":"text","content":"\n \nFor immediate release: 15 December 2005\n\n Buckland Group Plc \n\n ('Buckland' or the 'Company') \n\n Placing and Additional Listing \n\nBuckland Group Plc, a leading manufacturer of spark ignition equipment for the\ngas appliances industry worldwide, is pleased to announce a placing of\n200,000,000 Ordinary Shares of 0.001p each at a price of 0.1p ('Placing\nShares'), raising £200,000.\n\nThe funds raised will be used to provide additional working capital for the\ngroup.\n\nIn addition, the Company has today issued 187,399,220 new Ordinary Shares of\n0.001p in payment for services rendered to the Company and in conversion of\nshort term debt. Application has been made for the new Ordinary Shares,\ntogether with the Placing Shares, totalling 387,399,220 to be admitted to\ntrading on AIM and dealings will commence on 16 December 2005.\n\nThe Company is in the process of transferring all its remaining UK\nmanufacturing operations to its Bangkok facility, with completion of the final\nphase scheduled by the end of Q2 2006. Significant cost savings have already\nbeen achieved from the initial phases of this transfer and more substantial\ncost benefits are expected to be realised on completion of the transfer.\n\nPatrick Rogers, Chairman, commented,\n\n'Today's funding marks an important turning point in the Group's progress,\nproviding us with additional working capital to complete the transfer of all\nmanufacturing operations to Bangkok. Once this integration has been achieved,\nthe Group will benefit from greatly reduced labour costs and overheads, which\nin turn are expected to deliver significant enhancements in profitability and\nhence value to our shareholders.'\n\nFor further information please contact\n\nPatrick Rogers, Chairman\n\nBuckland Group Plc\n\nTel. 07711 420 702\n\nBen Simons\n\nHansard Communications\n\nTel. 020 7245 1100\n\n\n \n ","length":2058,"tagName":"div"}]