3rd Feb 2006 07:00
White Young Green PLC03 February 2006 For Immediate Release 3 February 2006 White Young Green Plc ("WYG") Acquisition of J C Warnock Consulting Engineers White Young Green ("WYG"), consultant to the built, natural and socialenvironment, today announces the acquisition of the business and assets of J CWarnock Consulting Engineers (J C Warnock) from Mr Ian Warnock. J C Warnock is a privately owned civil and structural consulting servicesbusiness based in Londonderry, Northern Ireland. The consideration payable at completion by WYG is £655,000, being £131,000 incash and £524,000 satisfied by the issue of 151,293 ordinary shares ("theConsideration Shares"). Application has been made for these Consideration Sharesto be admitted to the Official List of the UK Listing Authority and to be tradedon the London Stock Exchange's market for listed securities. Dealings areexpected to commence on 8 February 2006. In addition, further consideration(payable in ordinary shares and / or cash at WYG's option) of up to a maximum of£280,000 is due if certain performance criteria are met in the first year oftrading under WYG's ownership. For the year ended 30 September 2005 the profit before tax of J C Warnock afterallowing for Principals salary was £130,000 on turnover of £602,000. Ian Warnock, the principal of J C Warnock has signed a contract of employmentwith the WYG Group. John Purvis, Chief Executive commented: "The acquisition of J C Warnock strengthens White Young Green's business inIreland where we now employ over 300 staff across offices in Belfast, Derry,Dublin, Limerick and Cork and brings with it an impressive track record workingacross all sectors of the construction industry." Press Enquiries: John Purvis, Chief ExecutiveBob Hartley, Finance DirectorWhite Young Green Plc Tel: (0113) 278 7111 Tim Anderson / Rebecca Skye DietrichBuchanan Communications Tel: (020) 7466 5000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
WYG