Sutton Harbour Holdings PLC
16 May 2007
Sutton Harbour Holdings plc (the 'Company')
Acquisition and Placing
The Company is pleased to announce that it has acquired two car parks,
comprising 400 parking spaces in total, in the environs of Sutton Harbour,
Plymouth from Plymouth City Council for a total cash consideration of
£2,423,530.
The cash consideration has been funded by the placing of 794,600 new ordinary
shares of 25p each (the 'Placing Shares'), at £3.05 per share ('Placing Price').
The Placing Price represents a discount of 4.7 per cent. to the closing middle
market price of the Company on 15 May 2007 (being the latest practicable date
prior to this announcement). The Placing Shares represent approximately 3.25 per
cent. of the current issued share capital of the Company.
Application has been made for the Placing Shares to be admitted to AIM and
trading in these shares is expected to commence on 18 May 2007.
Following admission of the Placing Shares the issued share capital of the
Company will be 25,241,635 ordinary shares of 25p each.
16 May 2007
This information is provided by RNS
The company news service from the London Stock Exchange
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