Darwen Holdings PLC
25 February 2008
DARWEN HOLDINGS PLC
Admission to AIM and first day of dealings
Darwen Holdings plc ('Darwen' or the 'Company') is pleased to confirm the
admission of its ordinary shares to trading on the AIM market of the London
Stock Exchange today, under the ticker symbol, DHP. The number of shares in
issue following admission is 49,293,145.
Darwen specialises in the design, assembly and supply of single and double deck
buses to bus service operators in the UK, through its subsidiary, Darwen Group
Ltd ('Darwen Ltd'). The Directors intend to establish Darwen as a leading
vehicle manufacturing business. In addition to continuing to produce the diesel
models, the intention is to develop a line of hybrid vehicles, which will enable
the Company to provide low emission solutions to Darwen's existing and new
customers in the UK and further grow its customer base.
The Board believes that market demand for Darwen's existing products will
strengthen as a result of the Department for Transport's overall strategy to
facilitate the increased use of public transport in the UK. The Directors
further anticipate that this transport strategy, combined with Government and
social pressures to reduce society's impact on the environment, will create
further opportunities for Darwen in the lower emissions vehicles marketplace. As
such, Darwen is developing the next generation of low emission buses, including
buses powered by diesel electric hybrid technology.
Commenting on today's admission, Chief Executive, Andrew Brian, said:
'Today's AIM admission will support our strategic progress and provide our
shareholders with greater visibility of value as the business grows. We have
strong technical know how, design innovation and engineering excellence within
the Company, and a strong reputation within the industry. The admission will
further cement this reputation with our business partners and customers,
supporting our goal to become a true leader in passenger vehicle design and
assembly.'
Contacts
Darwen Holdings plc +44 (0) 1254 504150
Andrew Brian
Chief Executive
Cenkos Securities plc (Nomad and broker) +44 (0) 20 7397 8900
Stephen Keys
MC2 (Financial PR) +44 (0) 161 236 1352
Sarah Lindgreen
ENDS
About Darwen
Darwen Holdings plc ('Darwen') specialises in the design, assembly and supply of
single and double deck buses to bus service operators in the UK, through its
subsidiary, Darwen Group Ltd ('Darwen Ltd').
Darwen Ltd was established in August 2007 from the business and assets of East
Lancashire Coachbuilders Ltd. The Company went on to acquire specialist design,
manufacturing and product development consultancy skills with the addition of
Leyland Product Developments Ltd (now known as Darwen LPD), in November 2007.
Darwen's Board believes that market demand for high quality, low emission public
service vehicles is growing. In response, Darwen is developing a line of low
emission buses, using diesel electric hybrid technology.
Darwen's Board comprises founder and Chairman, Roy Stanley, Chief Executive,
Andrew Brian, and Non-Executive Director, John Fickling.
www.darwengroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
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