Holding(s) in Company
March 03 2003 - 11:09AM
UK Regulatory
RNS Number:2179I
Jarvis Porter Group PLC
03 March 2003
JARVIS PORTER GROUP PLC ("the Company")
Announcement
3 March 2003
The Company announces that it has acquired the following shares in the capital
of European Colour plc ("European Colour"):-
Date of Purchase No. of ordinary 5p shares Price paid per ordinary 5p share
21.02.2003 850,000 17.5p
28.02.2003 4,691,616 20.0p
Accordingly, the Company's aggregate holding in European Colour is now 5,541,616
ordinary 5p shares, representing 11.89% of its issued ordinary share capital.
European Colour is a specialist supplier of organic pigments to the printing
ink, paint and plastics industries whose shares are quoted on the Official List
of the London Stock Exchange. As at 28 February 2003, it had a market
capitalisation of #9.3m. In November 2002, European Colour announced its
half-year results for the six months ended 30 September 2002, which reported a
profit before tax (before interest payable) of #2.2m on a turnover of #23.9m.
In October 2002 the Company last reported it held #11m in cash and advised that
opportunities for investment were being sought. The Board considers that
European Colour represents a good investment opportunity with headline earnings
per share (diluted - before goodwill amortisation and exceptional items) of
2.98p as at 30 September 2002. In addition to European Colour the Board
continues to consider other suitable investment opportunities.
Enquiries:
Michael Maher, Non Executive Chairman 01252 747 900 or 07785 307 260
Ian Seaton, Bankside Consultants 020 7444 4157
This information is provided by RNS
The company news service from the London Stock Exchange
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