MITIE Group PLC
5 June 2000
MITIE GROUP PLC (MITIE)
MITIE announces that it has agreed to acquire 7.2% of the issued share
capital, held by minority shareholders, of MITIE Access Systems Ltd (Access
Systems) for a consideration of £490,000, to be satisfied by the issue of
59,283 New Ordinary shares of 5p each in MITIE (valued at £2.80p per share
being the mid market price per MITIE share on 28th April 2000) and the
balance in cash.
After the acquisition MITIE will own 71.9% of Access Systems.
The acquisition is made in accordance with the terms of the agreement
between MITIE and the employee shareholders of Access Systems entered into
on 21st January 1997.
Access Systems operates the hire and sale of scaffolding and access
equipment throughout the United Kingdom.
Application has today been made for the 59,283 New Ordinary shares of 5p
each in MITIE to be admitted to the Official List, maintained by the UK
Listing Authority, and to trading by the London Stock Exchange. Upon
admission the New Ordinary shares will rank pari passu with the existing
Ordinary shares.
Enquiries:
Floyd Waters
MITIE Group PLC
01934 862 006
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