Oak Heritage Ltd contract win (7873O)

TIDMOAH

RNS Number : 7873O

Oak Holdings PLC

23 September 2011

Oak Holdings plc

Contract win by Oak Heritage Ltd

Oak Holdings plc announces that its subsidiary Oak Heritage Ltd ("Heritage") which specialises in the build and restoration of Hispano Suiza vintage motor cars, has entered into a contract with a collector for the restoration of a 1922 H6 Hispano Suiza. Heritage has led the negotiations for the purchase of this car and has been retained by the collector to undertake a full restoration of the car over the coming 12 months at a contracted cost of GBP100,000 which is expected to generate a reasonable margin for Heritage. The collector has also indicated that it would be interested in further opportunities to acquire Hispano Suiza cars and would like to retain Heritage as agent to acquire and restore the vehicles to concourse condition.

Heritage is currently restoring four 1925/26 T49 Hispano's based on original parts owned by Heritage and is, for a client, re-wiring a fifth. The company also supplies Hispano parts to many clients around the world.

Enquiries:

Oak Holdings plc

Michael Woodcock

Chairman

Tel: 020 7493 5522

Nominated Adviser to Oak Holdings plc

Cairn Financial Advisers LLP

Tony Rawlinson

Tel: 020 7148 7900

This information is provided by RNS

The company news service from the London Stock Exchange

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