Business
Investment in Oxford Power
Investment in Oxford Power.
About this update from Telecom Plus Plc
[{"type":"text","content":"\n Telecom Plus PLC\n11 May 2006\n\n\n Telecom plus plc\n\n\n Investment in Oxford Power Holdings\n\n\nInternational Power plc ('IPR') has today announced the purchase of a 30% stake\nin Oxford Power Holdings Ltd ('OPH') for £7.25m. The shares have been purchased\nfrom existing shareholders other than Telecom Plus. The price paid represents a\ncurrent value for OPH of approximately £24 million.\n\nTelecom Plus has today exercised its warrants and anti-dilution rights at a cost\nof £8,694 to increase its shareholding in OPH to 20%. The total cost of its\ninvestment in OPH now amounts to £1.05m, compared with the implicit value of\n£4.8m placed on it following the investment by IPR.\n\n\nIPR also has a call option which gives them the right to acquire the remaining\n70% in 2009. The price to be paid on such exercise will be calculated using an\nagreed formula.\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1293,"tagName":"div"}]