22nd Feb 2006 07:01
Interregnum PLC22 February 2006 22nd February 2006 Interregnum plc ("Interregnum") Completion of Placing and acquisition of Quayside Corporate Services Ltd Further to obtaining shareholder approval to all of the resolutions proposed atthe Extraordinary General Meeting on Tuesday 21 February, the Board ofInterregnum is pleased to announce the following: Placing The Board has raised a total of £10 million (before expenses) via a placing of151,515,152 shares ("Placing") with institutional investors at a share price of6.6 pence. The institutional investors to the placing are: Schroder InvestmentManagement, Artemis Investment Management and Liontrust Asset Management. Acquisition In addition, the Board has completed the acquisition of 100 percent of theissued share capital of Quayside Corporate Services Limited ("Quayside") inconsideration for the issue of 90,909,091 new Interregnum shares and a cashamount equal to the net assets of Quayside on 28th February 2006. The consideration shares will represent 27.1 percent of the enlarged issuedshare capital of Interregnum following completion of the Placing and theacquisition. Quayside is led by David Mills, Managing Director who will join the Board ofInterregnum with immediate effect. Shares in issue Application will be made for the 242,424,243 ordinary shares to be issued and beadmitted to trading on AIM. Dealings will commence in the new ordinary sharestoday, the 22nd February 2006.The total number of shares in issue is now334,849,496. Niall Doran, Chief Executive of Interregnum plc said, 'This placing and acquisition are vital steps in the creation of a new merchantbank that now has the fire-power to expand our principal finance and syndicatedfinance investment activities and to execute higher-value corporate financetransactions.' Ends Enquiries: Interregnum plc 020 7494 3080Niall Doran (Chief Executive) Madano Partnership (PR to Interregnum) 020 7593 4000Toby Wilkinson/Matthew Moth Notes Quayside was established in 1999. It specializes in the restructuring andturnaround of businesses. To date it has worked on over 120 cases and has 33live programmes underway at the moment with over £250 million of funds managed. For the year ended 31 December 2005, Quayside generated revenues of £2.0 millionand profit after tax of £0.66 million. Quayside is led by David Mills, Managing Director (who will join the Board ofInterregnum following completion of the acquisition) supported by SandraThomson, Head of Leisure, Michael Bancroft, Head of Media & Fashion, ChrisLangridge, Head of Finance and Audit and Chris Marks, Head of Engineering/Manufacturing. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Parkmead