16th Jan 2007 07:01
Sigma Capital Group PLC16 January 2007 FOR IMMEDIATE RELEASE 16 January 2007 SIGMA CAPITAL GROUP PLC ("Sigma" or the "Company") Sixth property limited partnership Increased holding in property subsidiary Sigma Capital Group plc (AIM: SGM), the specialist asset management and advisorygroup, today announces: •Exchange of contracts for the acquisition of the five star Radisson Hotel, Glasgow •Increase in holding in Strategic Investment Management Ltd ("Si Management") to 47.8% from 44.1% Acquisition of Radisson Hotel - sixth property limited partnership Si Management has exchanged contracts for the acquisition of the five starRadisson Hotel in Glasgow. This will be Si Management's sixth property limitedpartnership and is anticipated to be capitalised at approximately £68 million.Si Management expects to earn gross fees from this transaction of £4 millionwhich, when completed, would represent more than the whole of Sigma's turnoverfor the first half of 2006. Increased holding in Si Management - application for Admission Sigma announces that application has been made for the admission of 98,250 newordinary shares of 1p each in the Company ("Shares") to AIM ("Admission"). TheShares, which will rank pari passu in all respects with the existing issuedShares, have been allotted to certain minority shareholders in exchange for thepurchase of their shares in Si Management. Following Admission, the Company'sholding in Si Management will be increased to approximately 47.8 per cent.Admission is expected to become effective on 19 January 2007. ENDS ContactSigma Capital Group plcGraham Barnet, Joint Managing Director 0131 220 9444 Strategic Investment Management LtdMark Emlick, Chairman 0131 220 9440 Buchanan CommunicationsDiane Stewart/Isabel Podda 0207 466 5000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SGM.L