16th Jul 2007 16:47
Newcourt Group plc16 July 2007 NEWCOURT GROUP PLC Dublin, 7 June, 2007: Newcourt Group plc ('Newcourt' or the 'Group'), a leading, Irish based,support services group, today announced that its wholly owned subsidiary, Ely Property Limited hasagreed to acquire the balance of the share capital in Aldborough Developments Limited('Aldborough') for a total consideration of EUR 4.5 million. The consideration is being funded bythrough the issue of approximately 2.65 million new Newcourt Ordinary Shares. Newcourt currentlyowns 25% of Aldborough. Aldborough's assets comprise Aldborough House, Dublin 1 which has now secured full planning consentfor a 40 bed private day-care hospital on the site. Development will begin shortly with completionexpected in the last quarter of 2008. The development is conveniently located close to Dublin'sMater and Mater Private hospitals where many medical consultants are currently based. Ted O'Neill, Chief Executive, Newcourt Group plc, commented 'The development of the first privateday-care hospital in Dublin City Centre will be a significant achievement for Ely. This is acompelling development opportunity for Ely and, by extension, Newcourt Group, in the healthcaresector where demand for this service significantly exceeds the available supply.' Application will be made to have these shares admitted to trading on the IEX market of the IrishStock Exchange and the the AIM market of the London Stock Exchange. ENDS About Newcourt Group plc Newcourt is a leading provider of support services, employing over 2,700 staff throughout theisland of Ireland. The Group has two primary operating divisions: Support Services & StudentAccommodation and Recruitment & Aviation Outsourcing. About Ely Property Group Ely Property Group is engaged in the development and management of student accommodation in Irelandand the UK. Contacts \* T Ted O'Neill Mark Kenny/Jonathan Neilan Newcourt Group K Capital Source Mobile: +353 86 8214467 Tel: +353 1 631 5500 Email: [email protected] This announcement has been issued through the Companies Announcement Service of the Irish Stock Exchange This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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