14th Apr 2008 07:00
Latchways PLC14 April 2008 Latchways plc Acquisition AcquisitionLatchways plc announces that, on 11th April 2008, it acquired the entire issuedshare capital of Sigma 6 d.o.o ("Sigma 6", a Slovenian limited liabilitycompany) from Framework Investment Limited. Sigma 6 is a provider of aluminiumguardrail systems and is based in Izola, Slovenia. The guardrail is currentlymarketed across Europe under the "Vertigo" brand, and will be complementary tothe Latchways product range. The consideration payable was an initial cash consideration of 1,600,000 Euros.Further deferred consideration will be payable based on future sales revenues ofthe guardrail system, with the aggregate deferred consideration estimated atbetween 400,000 and 800,000 Euros. The transaction was funded out of existing cash reserves, as will be thedeferred consideration. Trading UpdateTrading in the final two months of the financial year was in line withmanagement's expectations as set out in the Interim Management Statement of 6thFebruary 2008. The board remains confident of reporting overall groupperformance for the year to 31st March 2008 in line with market expectations. It is expected that preliminary results for the year will be released on Monday9th June 2008. Enquiries: Latchways plc Threadneedle CommunicationsDavid Hearson, Chief Executive Graham HerringRex Orton, Financial Director Tel: 020 7936 9605Tel: 01380 732700 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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