7th Jun 2007 12:40
Dublin, 7 June, 2007: Newcourt Group plc ('Newcourt' or the 'Group'), a leading,Irish based, support services group, today announced that its wholly ownedsubsidiary, Ely Property Limited has agreed to acquire the balance of the sharecapital in Aldborough Developments Limited ("Aldborough") for a totalconsideration of EUR 4.5 million. The consideration is being funded by throughthe issue of approximately 2.65 million new Newcourt Ordinary Shares. Newcourtcurrently owns 25% of Aldborough. Aldborough's assets comprise Aldborough House, Dublin 1 which has now securedfull planning consent for a 40 bed private day-care hospital on the site.Development will begin shortly with completion expected in the last quarter of2008. The development is conveniently located close to Dublin's Mater and MaterPrivate hospitals where many medical consultants are currently based. Ted O'Neill, Chief Executive, Newcourt Group plc, commented "The development ofthe first private day-care hospital in Dublin City Centre will be a significantachievement for Ely. This is a compelling development opportunity for Ely and,by extension, Newcourt Group, in the healthcare sector where demand for thisservice significantly exceeds the available supply." Application will be made to have these shares admitted to trading on the IEXmarket of the Irish Stock Exchange and the the AIM market of the London StockExchange. ENDS About Newcourt Group plc Newcourt is a leading provider of support services, employing over 2,700 staffthroughout the island of Ireland. The Group has two primary operating divisions:Support Services & Student Accommodation and Recruitment & Aviation Outsourcing. About Ely Property Group Ely Property Group is engaged in the development and management of studentaccommodation in Ireland and the UK. Contacts \* TTed O'Neill Mark Kenny/Jonathan Neilan Newcourt Group K Capital Source Mobile: +353 86 8214467 Tel: +353 1 631 5500 Email: Newcourt@kcapitalsource.com-------------------------------------- --------------------------------------\* T Copyright Business Wire 2007Related Shares:
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