Acal PLC
5 June 2002
FOR RELEASE 7:00 AM 5 JUNE 2002
ACAL plc
(Leading pan-European, value added distributor providing specialist design-in,
sales and
marketing services for international suppliers)
Listing of Singapore Associate
Acal plc announces that Westech Electronics Limited, its associate in the Far
East, has been listed on the Singapore Stock Exchange, SGX-ST.
Westech is a distributor and manufacturers representative for a diverse range of
electronic components. It has suppliers and customers spread from the USA to
Europe, India, South Korea, Japan, Peoples Republic of China and other Asian
countries.
Acal first made an investment in Westech in 1995 as part of its strategy of
being able to meet the needs of customers and suppliers in the long-term growth
markets of the Far East.
None of the existing shareholders of Westech sold any shares as part of the
listing. New shares representing 16% of the enlarged capital of the Company
were issued to raise a net amount of S$5.0 million (approximately £1.9 million)
which will be used to reduce the debt of Westech.
Following the listing Acal's interest represents 36.7% of the enlarged capital
of Westech. At the close of business on the first day of dealings, Acal's
holding was valued at S$25.4 million (approximately £9.7 million).
For further information:-
John Curry Chairman Tel: 01483 544500
Jim Virdee Finance Director Tel: 01483 544500
Brian Coleman-Smith Binns & Co Public Relations Ltd Tel: 020 7786
9600
Notes to Editors:-
1 The Acal Group is a leading European, value-added distributor providing
specialist design-in, sales and marketing services for international
suppliers in the fields of Electronic Components, IT Products, IT
Parts Services and Industrial Controls. Its value-added philosophy and
geographic coverage enables Acal to provide specialist knowledge and
support to customers on a pan-European basis.
2 Design-in is the process by which Acal's sales engineers work with
customers and suppliers to procure components which meet the specific
technical and performance needs of the customers.
3 Acal has operating companies in the UK, Netherlands, Belgium, Germany,
France, Italy, Scandinavia and the USA.
This information is provided by RNS
The company news service from the London Stock Exchange
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