30th Jul 2008 07:00
Cosalt plc
("Cosalt" or the "Company")
Further re: Acquisition of Myhre-Maritime A/S
Issue of 410,468 new ordinary shares
Total Voting Rights
Completion of Financing
Further to the announcement on 26 June 2008 the Board is pleased to announce that the financing of the acquisition of Myhre-Maritime A/S ("Myhre-Maritime") for up to £12 million has been completed. The acquisition of Myhre-Maritime which is a Norwegian marine safety business will reinforce the Company's already strong position in the North Sea marine safety arena.
Issue of 410,468 new ordinary shares
In connection with the acquisition of Myhre-Maritime, the Company has issued and allotted 410,468 new ordinary shares of 25p each to Hebris A/S, the vendor of Myhre-Maritime (the "Consideration Shares"). The Consideration Shares have been issued at a price of 240p per share and have been issued in order to satisfy the element of the consideration payable by issuing shares in the Company.
Application has been made for admission of the Consideration Shares to the Official List and it is expected that admission will become effective and that dealings will commence at 08.00 a.m. on 4 August 2008.
Total Voting Rights
Following admission of the Consideration Shares, in accordance with the FSA's Disclosure and Transparency Rules, the Company advises that its share capital will comprise 26,403,397 ordinary shares. The voting rights on these shares are identical.
The above figure which may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in the Company under the FSA's Disclosure and Transparency Rules.
30 July 2008
Enquiries:
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Cosalt
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01472 504504
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Mark Lejman, Chief Executive
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Neil Carrick, Financial Director
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College Hill
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020 7457 2020
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Mark Garraway
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Adam Aljewicz
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Related Shares:
CSLT.L