Completion of Disposal
July 31 2007 - 11:42AM
UK Regulatory
RNS Number:2354B
Brightview PLC
31 July 2007
Date: Immediate, Tuesday 31 July 2007
Contact: Charles Fairbairn (Chairman)
David Laurie (Chief Executive)
Brightview
Tel: 020 7796 4133 (contact via Hudson Sandler)
Corporate Website: www.brightview.com
Alistair Mackinnon-Musson Mark Williams
Nicola Savage Canaccord Adams Limited
Hudson Sandler Nominated Adviser
Tel: 020 7796 4133 Tel: 020 7050 6500
Email: brightview@hspr.com
Brightview plc
Completion of Disposal to British Telecommunications plc,
Board Change and Change of Registered Address
Further to the announcement made by Brightview plc ("the Company") on 25 July
2007, the disposal of the entire issued share capital of Brightview Group
Limited to British Telecommunications plc has been completed, for an aggregate
consideration of #15.8 million plus an additional payment of #375,000, referred
to in the Notice of EGM dated 6 July 2007, which was dependent on the resolution
of certain intellectual property related matters.
As a result David Laurie, Chief Executive Officer, and David Stirling, Finance
Director, have resigned from the Board of the Company with immediate effect.
Following completion of the disposal, the Company has become an investing
company under the AIM Rules for Companies. If the Company has not made
substantial investments by 30 June 2008, the directors of Brightview plc intend
to give shareholders the opportunity to vote at an extraordinary general meeting
to return any remaining cash to shareholders.
Further information on the disposal, use of proceeds and proposed investing
strategy of the Company can be found in the Notice of EGM sent to shareholders
dated 6 July 2007.
The Company also announces that its registered office address has been changed
to 73 Wimpole Street, London, W1G 8AZ.
- ENDS -
This information is provided by RNS
The company news service from the London Stock Exchange
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