11th May 2006 15:51
Telecom Plus PLC11 May 2006 Telecom plus plc Investment in Oxford Power Holdings International Power plc ("IPR") has today announced the purchase of a 30% stakein Oxford Power Holdings Ltd ("OPH") for £7.25m. The shares have been purchasedfrom existing shareholders other than Telecom Plus. The price paid represents acurrent value for OPH of approximately £24 million. Telecom Plus has today exercised its warrants and anti-dilution rights at a costof £8,694 to increase its shareholding in OPH to 20%. The total cost of itsinvestment in OPH now amounts to £1.05m, compared with the implicit value of£4.8m placed on it following the investment by IPR. IPR also has a call option which gives them the right to acquire the remaining70% in 2009. The price to be paid on such exercise will be calculated using anagreed formula. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Telecom Plus