Schedule 1 Update - Darwen Ho

RNS Number : 7281Y

AIM

09 July 2008

 



ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ('AIM RULES')

COMPANY NAME:

Darwen Holdings Plc

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

Lower Philips Road Whitebirk Industrial Estate Blackburn Lancashire BB1 5UD

COUNTRY OF INCORPORATION:

UK

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

www.darwengroup.com

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE  CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY).  IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

Darwen Holdings Plc ('Darwen' or the Company') specialises in the design, assembly and supply of single and double deck buses to service operators in the UK. Admission to trading on AIM is sought for the enlarged share capital of the Company following the reverse takeover of Jamesstan Investments Limited ('Jamesstan').  The Company has conditionally agreed, subject to shareholder approval at the General Meeting to be held on 14 July 2008, to acquire the entire issued share capital of Jamesstan. Jamesstan is the holding company of the Optare Group of companies, a UK bus and coach manufacturer.  Subject to shareholder approval, the Company will be renamed Optare plc. With the combined skills and competencies of the two businesses Darwen will possess a range of in house skills which the Directors believe will enable Darwen to establish itself as a leading passenger vehicle assembly business and provider of low emission buses.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

108,459,811

CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Capital to be raised on admission: £16 million Anticipated market capitalisation: £33.1 million

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

25.9%

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

N/A

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Roy Robert Edward Stanley - Executive Chairman Andrew Peter Brian - Chief Executive Officer John Matthew Fickling - Non-executive Michael James Dunn - Proposed Chief Financial Officer

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

Before Admission and as at 27 June 2008: Roy Robert Edward Stanley                            50.7% RC Grieg Nominees                                        10.8% Chase Nominees Ltd                                        4.2% Giltspur Nominees Ltd                                      4.1% After Admission: Roy Robert Edward Stanley                        28.4% M&G Investment Management Limited     13.8% Close Investments                                         6.6% RC Grieg Nominees Ltd                                5.0% Legal & General Investment Managers      3.1%

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

N/A

ANTICIPATED ACCOUNTING REFERENCE DATE  DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

31 December 31 December 2007 30 September 2008, 30 June 2009, 30 September 2009

EXPECTED ADMISSION DATE:

15 July 2008

NAME AND ADDRESS OF NOMINATED ADVISER:

Cenkos Securities Plc 6.7.8 Tokenhouse Yard London EC2R 7AS

NAME AND ADDRESS OF BROKER:

Cenkos Securities Plc 6.7.8 Tokenhouse Yard London EC2R 7AS

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

The admission document containing full details about Darwen Holdings Plc and the admission of Ordinary Shares will be available from the offices of: Darwen Holdings Plc, Lower Philips Road, Whitebirk Industrial Estate, Blackburn, Lancashire, BB1 5UD; Cobbets LLP, No. 1 Whitehall Riverside, Whitehall Road, Leeds, LS1 4BN; and Cenkos Securities Plc, 6.7.8 Tokenhouse Yard, London, ECRR 7AS Or on their website: www.darwengroup.com

DATE OF NOTIFICATION:

9 July 2008

NEW/ UPDATE:

Update

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