9th May 2005 06:00
Embargoed Release: 07:00hrs Monday 9 May 2005 Toad Group plc ("the Company" or "Toad") Exercise of option to acquire a further 24% of 21st Century In view of the excellent progress made with its recent 25% investment in 21stCentury Crime Prevention Services Limited ("21st Century"), the directors ofToad today announced that they have exercised the Company's option to acquire afurther 24% of 21st Century at the option price of ‚£750,000 in cash. Thissecond tranche of preference shares will yield a dividend entitlement of ‚£245,000 per annum which together with the initial 25% investment will bring thecumulative dividend entitlement to ‚£500,000 per annum. The Company has afurther option to acquire the remaining 51% of 21st Century.21st Century is a leading provider of CCTV and black-box solutions for the UKpublic transport sector including Arriva's UK Bus Division with whom it hasdeveloped a bespoke system.Peter Ward, Chairman, commented:"We are very pleased with the trading figures for 21st Century for the year todate. The additional dividend entitlement will enable us to invest further inour own infrastructure to accelerate the growth of our strategic partnership." -ENDS- For enquiries please contact:Peter WardChairman, Toad Group plcWilson JenningsFinance Director, Toad Group plcTel: 020 8710 4000Andy TanHansard CommunicationsTel: 020 7245 1100ENDTOAD GROUP PLCRelated Shares:
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