Acquisition of Clarke Telecom Limited

RNS Number : 6787H

Renew Holdings PLC

21 May 2014

 



Renew Holdings plc

("Renew" or the "Group")

Acquisition of Clarke Telecom Limited

Further to the statement released on 29 April 2014 concerning the acquisition of Clarke Telecom Limited ("Clarke"), Renew (AIM: RNWH), the Engineering Services Group supporting UK infrastructure, announces that it has now acquired the remaining shares in Clarke for a cash consideration of £5.1m and now owns the entire issued share capital of Clarke. The total consideration paid was £17m in cash.  The acquisition has been funded from the Group's cash resources and a four year term loan of £12m provided by HSBC Bank plc.

Enquiries:

Renew Holdings plc	Tel: [phone]
Brian May, Chief Executive
John Samuel, Group Finance Director
Numis Securities Limited	Tel: [phone]
Stuart Skinner (Nominated Adviser)
James Serjeant (Corporate Broker)
Walbrook PR	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Bob Huxford	Mob: [phone]

About Renew Holdings plc

Engineering Services, which now accounts for over 75% of Group revenue and 85% of operating profit, focuses on the key markets of Energy (including Nuclear), Environmental and Infrastructure, which are largely governed by regulation and benefit from non-discretionary spend with long-term visibility of committed funding.

Specialist Building focuses on the High Quality Residential and New Build Affordable Housing markets in the South of England.

For more information please visit the Renew Holdings plc website: www.renewholdings.com

 

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