Business
Completion of the acquisition of Hope
Completion of the acquisition of Hope.
About this update from Breedon Group Plc
[{"type":"text","content":"\n \nRNS Number : 7906F Breedon Aggregates Ld 01 August 2016 \n\n1 August 2016\nBreedon Aggregates Limited\n(\"Breedon\")\nCompletion of the acquisition of Hope Construction Materials Limited\nFurther to the announcement on 18 November 2015, Breedon is pleased to announce that it has completed the acquisition of Hope Construction Materials Limited (\"Hope\") for £336 million.\nAs a result of the completion of the acquisition (\"Completion\"), the 259,120,245 new ordinary shares have been issued to Abicad Holding Limited, an associated company of Hope's seller, Cortolina Investments S.à r.l. (the \"Consideration Shares\"). Application has been made to the London Stock Exchange plc for the Consideration Shares to be admitted to trading on AIM. It is expected that admission will become effective and that dealings in the Consideration Shares will commence on AIM on 2 August 2016 (\"Admission\"). \nOn Admission, the enlarged share capital of Breedon will be 1,410,841,536 ordinary shares of no par value in issue. This number may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of Breedon.\nUpon Completion, Amit Bhatia, Hope's Chairman, was appointed to the Breedon board of directors as a non-executive director.\nRegulatory Disclosures\nIn the previous five years, Amit Bhatia, aged 36, has been a director of the following entities:\n\n\n\n\nCurrent Directorships \n\n\nPast Directorships\n\n\n\n\nQPR Holdings Limited\n\n\nHope Construction Materials Limited\n\n\n\n\nGlobal Relief Initiative \n\n\nHope Construction Products Limited\n\n\n\n\nBrimary Investments Sarl\n\n\nHope Cement Limited\n\n\n\n\nSwordfish Capital Management LLP\n\n\nHope Ready Mixed Concrete Limited\n\n\n\n\nSwordfish Investments LLP\n\n\nAirAsia Berhad\n\n\n\n\n\n\n\nMaurindo Investments Limited\n\n\n\n\n\n\n\nSwordfish Capital Services Limited\n\n\n\n\n\n\n\nPT Ispat Indo\n\n\n\n\nThere are no other details regarding the appointment of Amit Bhatia that require disclosure under the AIM Rules.\nThe information contained within this announcement is deemed by the Group to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014.\nEnquiri...