16th Apr 2009 07:00
Ashley House plc
16 April 2009
THIS ANNOUNCEMENT IS NOT FOR RELEASE, OR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN
Ashley House plc
("Ashley House" or "the Company")
Proposed Placing of 3,500,000 new Ordinary Shares,
Ashley House, the Primary Care Infrastructure specialist, proposes to raise approximately GBP 2.275 million by issuing 3,500,000 new ordinary shares of 1p each (the "Placing Shares") at a placing price of 65p per share (the "Placing Price") with Invesco Perpetual (the "Placing"). Immediately following the Placing, the total number of issued ordinary shares with voting rights is expected to be 47,094,379 and Invesco Perpetual will be interested in approximately 7.4 per cent. of the issued ordinary share capital of the Company.
The net proceeds of the Placing are expected to be approximately GBP 2.275 million and the new funds raised will be used for general working capital purposes to assist in the expansion of the business. Following the NHS LIFT acquisition in June 2008, the pipeline of projects has expanded significantly.
Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. It is expected that Admission will become effective and that trading in the Placing Shares will commence on 21 April 2009. The Placing Shares will, when issued and fully paid, rank pari passu in all respects with the Company's existing Ordinary Shares, including the right to receive any dividend or other distribution thereafter declared, made or paid.
Sir William Wells, Chairman commented "Ashley House is now at a very exciting stage of its development. The proceeds of this placement will allow us to grow the business further and maximise the opportunities being presented to the business in particular through the NHS LIFT market. We look forward to the future with renewed confidence"
Enquiries:
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Ashley House plc
Jonathan Holmes,Chief Executive
Bruce Walker, Finance Director
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Tel: 01628 600340
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Numis Securities (NOMAD and broker Ashley House) David Poutney / Oliver Cardigan
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Tel: 020 7260 1000
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Citigate Dewe Rogerson
Sarah Gestetner / Ged Brumby
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Tel: 020 7638 9571
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Notes to editors:
About Ashley House
Established in 1991, Ashley House's principal activity is the supply of project management and consultancy services, primarily allied to the provision of medical property facilities delivering NHS led Primary Care. Ashley House offers a complete 'one stop' professional design and construction service from site finding through viability assessment, design, planning, and finally construction using a fixed price 'Design and Build' contract.
Ashley House has a strong pipeline of projects at different stages of development from initial inquiry through to the later stages of construction. Projects range from the building of traditional GP surgeries to integrated 'one stop shop' health centres. This includes an increasing number of projects secured through the NHS LIFT initiative following the acquisition of interests in 7 LIFT Companies in 2008.
Related Shares:
ASH.L