Issue of Equity & New Investment
May 01 2009 - 8:55AM
UK Regulatory
TIDMEVOL
RNS Number : 6046R
Evolve Capital PLC
01 May 2009
Evolve Capital plc ("Evolve")
Investment in WH Ireland Group plc ("WH Ireland")
Evolve is pleased to announce that it has issued 10,075,950 new ordinary shares
in consideration for its purchase of 1,119,550 ordinary shares in WH Ireland.
Evolve now holds approximately 5.31% of the issued share capital of WH Ireland.
Evolve is pleased to have secured this investment for non-cash consideration in
a sector to which it is already exposed through its investment in Blue Oar plc.
WH Ireland has been subject to merger talks in the past and the directors of
Evolve believe that rationalisation and consolidation amongst smaller brokers
and AIM advisers is both desirable and inevitable and Evolve has purchased the
shareholding in WH Ireland with a view to benefiting from any such activity in
the future.
Evolve emphasises that it is not at present contemplating making any offer for
WH Ireland, however, it reserves the right to do so in the event that a third
party makes a possible offer.
Application will be made by Evolve for the 10,075,950 new ordinary shares to be
admitted to trading on AIM and admission is expected to take place on 8 May
2009. The new ordinary shares rank pari passu with the existing ordinary shares
in issue.
Following the issue of 10,075,950 ordinary shares, Evolve will have 168,098,610
shares in issue.
Enquiries:
Evolve Capital PLC
Edward Vandyk Tel: 020 7937 4445
Fairfax I.S. PLC, Nominated Adviser
Jeremy Porter / Adam Hart Tel: 020 7598 5368
This information is provided by RNS
The company news service from the London Stock Exchange
END
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