MITIE Group PLC
13 December 2002
MITIE GROUP PLC ('MITIE' or the 'Company')
Acquisition of shares in MITIE Deeds Limited ('Deeds')
MITIE announces that it has today agreed to acquire 243,082 ordinary shares of
1p each and 243,082 deferred shares of £1 each in the capital of Deeds, being
the entire share capital not already owned by MITIE. After the acquisition
MITIE will own 100% of Deeds.
Deeds is the holding company of MITIE Property Services (London) Limited which
operates as a painting and building maintenance contractor in the London area
and Northern Home Counties.
The total consideration of £1,249,465.48 will be satisfied as to £55,935.80 in
cash and as to the remaining £1,193,529.68 by the issue of 1,455,524 new
ordinary shares of 2.5p each in MITIE ('the New MITIE Shares'),valued at 82p per
share.
Following this acquisition and the issue of the new New MITIE shares, William
Robson, a director of MITIE, has today notified the Company that he has today
acquired 106,560 New MITIE Shares (0.04% of the issued share capital of MITIE)
and accordingly is now interested in a total of 2,314,713 MITIE ordinary shares
of 2.5p each, representing 0.77% of the issued share capital of MITIE.
Application will be made to the Financial Services Authority for the admission
to the Official List, and the London Stock Exchange plc for admission to trading
on its market for listed securities, for the New MITIE Shares, which will rank
pari passu with the existing ordinary shares. It is expected that admission of
the New MITIE Shares to the Official List will become effective on 18 December
2002 and that dealings will commence on 19 December 2002.
Date: 13 December 2002
This information is provided by RNS
The company news service from the London Stock Exchange
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