Completion of the acquisition of Hope

RNS Number : 7906F

Breedon Aggregates Ld

01 August 2016

 

1 August 2016

Breedon Aggregates Limited

("Breedon")

Completion of the acquisition of Hope Construction Materials Limited

Further to the announcement on 18 November 2015, Breedon is pleased to announce that it has completed the acquisition of Hope Construction Materials Limited ("Hope") for £336 million.

As a result of the completion of the acquisition ("Completion"), the 259,120,245 new ordinary shares have been issued to Abicad Holding Limited, an associated company of Hope's seller, Cortolina Investments S.à r.l. (the "Consideration Shares").  Application has been made to the London Stock Exchange plc for the Consideration Shares to be admitted to trading on AIM.  It is expected that admission will become effective and that dealings in the Consideration Shares will commence on AIM on 2 August 2016 ("Admission"). 

On Admission, the enlarged share capital of Breedon will be 1,410,841,536 ordinary shares of no par value in issue.  This number may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of Breedon.

Upon Completion, Amit Bhatia, Hope's Chairman, was appointed to the Breedon board of directors as a non-executive director.

Regulatory Disclosures

In the previous five years, Amit Bhatia, aged 36, has been a director of the following entities:

Current Directorships	Past Directorships
QPR Holdings Limited	Hope Construction Materials Limited
Global Relief Initiative	Hope Construction Products Limited
Brimary Investments Sarl	Hope Cement Limited
Swordfish Capital Management LLP	Hope Ready Mixed Concrete Limited
Swordfish Investments LLP	AirAsia Berhad
	Maurindo Investments Limited
	Swordfish Capital Services Limited
	PT Ispat Indo

There are no other details regarding the appointment of Amit Bhatia that require disclosure under the AIM Rules.

The information contained within this announcement is deemed by the Group to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014.

Enquiries:

Breedon Aggregates Limited Peter Tom, Executive Chairman Pat Ward, Chief Executive Rob Wood, Finance Director Stephen Jacobs, Head of Communications

Tel: [phone] Tel: [phone]

Cenkos Securities (NOMAD and Joint Broker)

Max Hartley                                                                                                                       Tel: [phone]

Peel Hunt (Joint Broker)

Justin Jones / Mike Bell                                                                                                Tel: [phone]

 

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