Strategic Investment

RNS Number : 5611E

Brainspark PLC

08 April 2011

 



8 April 2011

Brainspark plc

                                                              ("Brainspark" or "the Company")

Strategic Investment

Brainspark plc (AIM: BSP), a fast growing international investment company, announces that it has entered into an agreement with UK based Firkon Ltd to acquire 20 per cent. of the issued share capital of Wall s.r.l., an Italian property company, which owns significant interests in two construction companies.

Wall owns 80 per cent. of CO.GE.VI s.r.l., a specialist commercial construction company, and 100 per cent. of Cullati Impresa Costruzioni, a well regarded general building contractor. Both companies are based in Torino, Italy.  

Brainspark will acquire the shares in Wall s.r.l. for the consideration of EUR 175,000, to be paid in Brainspark ordinary shares at a price of 50 pence per share. The Company is in the process of creating a wholly owned subsidiary, Brainspark Consulting Ltd, which will own the assets of the recently acquired Sforza s.r.l., Class Finance as well as Wall s.r.l. and will be responsible for the Mediapolis project and other aspects of the Brainspark group of companies.

Alfredo Villa, Chairman and CEO of Brainspark, commented, "Following on from our announcement in March regarding the strategic investments in Sforza and Class Finance, this new company adds the final element needed for us to take a greater degree of control of our many projects."

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For further information please contact:

Brainspark plc                                                                                    [phone]

Alfredo Villa, Chairman and CEO

Arbuthnot Securities                                                                          [phone]

Antonio Bossi / Ed Groome

Leander PR                                                                                       [phone]

Christian Taylor-Wilkinson

About Brainspark Plc

Brainspark plc (AIM: BSP) is an AIM listed investment company pursuing a dynamic strategy to create a comprehensive portfolio of companies primarily encompassing the interactive media, leisure, entertainment and financial services sectors mainly in Italy but also other European countries. Its core investment is B'Parks & Leisure, the owner of a site in northern Italy with plans for the development of a large theme park. The company may be either a passive or active investor and Brainspark's investment rationale ranges from acquiring minority positions with strategic influence through to larger controlling positions.

 

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