Float on AIM
October 24 2007 - 5:34AM
UK Regulatory
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
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