NINE Ninety

RNS Number:2555G
Albany Capital PLC
24 October 2007

24/10/07

                               Albany Capital Plc
                               ("Albany Capital")


       Albany Capital investee company Ninety PLC - first day of dealings


Albany Capital has invested #2.15m in Ninety Plc, a newly incorporated company
that has been established in order to acquire a controlling interest in a
company, partnership or joint venture which will be located in the UK or Asia.
Albany Capital Plc is pleased to announce that Ninety Plc ("Ninety") was floated
on AIM today.  Albany Capital holds 264,500,000 ordinary shares representing
70.63% of the issued share capital of Ninety.


Ninety will focus upon an acquisition target in one of the following sectors:
investment, consumer goods, engineering, industrials, leisure and hotels, media
and entertainment, professional and support services, retailing, technology and
telecommunications.

  * Placing price of 1p per ordinary share;
  * Based on the above placing price per share, the market capitalisation of
    Ninety Group will be approximately #3.7 million;

John McLean, Chairman of Albany Capital Plc, commented:

"Ninety is the second listed shell company to be created by Albany Capital Plc
following the successful fund raising and flotation of Vestpa PLC on AIM in June
2007. Each shell company will be used to undertake a development capital
transaction and are attractive to entrepreneurs as they combine capital and
immediate liquidity. Albany Capital Plc is attractive to investors as it
provides exposure to private equity style transactions with early liquidity in
the underlying investments."

Enquiries:


John McLean, Albany Capital                         tel: +44(0)203-178-4506

Adam Reynolds, Hansard Group                        tel: +44 (0)20 7250 1100

James Joyce/Sarang Shah, WH Ireland                 tel: +44 (0)20 7220 1666


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

MSCFEESULSWSEDS

Ninety (LSE:NINE)
Historical Stock Chart
From May 2024 to Jun 2024

Ninety (LSE:NINE)
Historical Stock Chart
From Jun 2023 to Jun 2024