Issue of Equity

RNS Number : 1592Q

Mountfield Group plc

06 April 2009

 



Press Release

6 April 2009

Mountfield Group plc

('Mountfield' or the 'Company')

Issue of Equity

Mountfield Group plc, a provider of integrated specialist construction support services, today announces that on 31 March 2009 it allotted 1,753,267 Ordinary Shares of 0.1 pence each ('Ordinary Shares') in respect of outstanding legal fees which have been settled at the price of 10 pence per share.

The Company's issued share capital will increase to 171,311,787 Ordinary Shares.

Application is being made for the shares to be admitted to trading on AIM with admission expected to take place on 9 April 2009.

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For further information:

Mountfield Group plc
Peter Jay, Executive Chairman	Tel: [phone]
Graham Read, Chief Executive Officer	www.mountfieldgroupplc.com

Daniel Stewart & Company Plc
Paul Shackleton / Oliver Rigby	Tel: [phone]
[e-mail]	www.danielstewart.co.uk

Media enquiries:

Abchurch
Stephanie Cuthbert / Jack Ballantyne	Tel: [phone]
[e-mail]	www.abchurch-group.com

  Mountfield Group plc

Notes to Editors

Mountfield Group is a provider of specialist construction and property services. The Group's principal activity is the internal construction and fit out of data centres for in a broad range of industry sectors including telecoms, IT banking and retail.  Mountfield Group listed on the AIM market of the London Stock Exchange in (October 2008).  It consists of three integrated businesses employing specialist tradesmen. The Group intends to acquire additional businesses that will add further complimentary services and cross-selling opportunities.  

Mountfield Building Group

Established in 1987, the company has two divisions; direct contracting and trade contracting services. The direct contracting division works as the main contractor with the end user clients. This division specialises in the nationwide installation of data centres for large companies. The trade contract division delivers specialist building work and multi trade packages and refurbishment for main development contractors. Clients include Cable and Wireless, Colt Communications, ISG PLC and Skanska.

Connaught Access Flooring ('Connaught')

Formed in 1992, Connaught is a provider of flooring systems to both main contractors and corporate end users. The Company has established itself as one of the few recognised specialists for fitting commercial office space for corporate end users. It has delivered fit out and refurbishment projects for end users such as BP plc, Standard Chartered Bank, and Unilever plc. 

Mountfield Land

Mountfield Land sources and enhances the value of land before selling its interest to developers. The company develops brownfield sites and residential gardens and/or private dwellings to create residential development opportunities. It does not purchase the sites, instead it seeks an option over the site and a share of the completed value of the land before it assigns the options to a developer, housing association or registered land owner.

For the year ended 31 December 2007, Mountfield Building Group generated revenues of £11.3 million and a profit before tax ('PBT') of £1.1 million and for the six months ended 30 June 2008 generated revenues of £10 million and PBT of £1.2 million. For the year ended 31 March 2008, Connaught Access Flooring Holdings Limited generated revenues of £8 million with PBT of £1.4 million. Mountfield Land Limited was incorporated in February 2008 and is yet to contribute to the Group.

Further information on Mountfield Group plc can be found at www.mountfieldgroupplc.com

 

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