Information  X 
Enter a valid email address

Brightview PLC (FNS)

  Print      Mail a friend

Tuesday 31 July, 2007

Brightview PLC

Completion of Disposal

Brightview PLC
31 July 2007



Date:                 Immediate, Tuesday 31 July 2007

Contact:              Charles Fairbairn (Chairman)
                      David Laurie (Chief Executive)
                      Brightview
                      Tel:  020 7796 4133 (contact via Hudson Sandler)
                      Corporate Website:  www.brightview.com

                      Alistair Mackinnon-Musson          Mark Williams
                      Nicola Savage                      Canaccord Adams Limited
                      Hudson Sandler                     Nominated Adviser
                      Tel: 020 7796 4133                 Tel: 020 7050 6500
                      Email: [email protected]





Brightview plc



           Completion of Disposal to British Telecommunications plc,

                 Board Change and Change of Registered Address



Further to the announcement made by Brightview plc ('the Company') on 25 July
2007, the disposal of the entire issued share capital of Brightview Group
Limited to British Telecommunications plc has been completed, for an aggregate
consideration of £15.8 million plus an additional payment of £375,000, referred
to in the Notice of EGM dated 6 July 2007, which was dependent on the resolution
of certain intellectual property related matters.



As a result David Laurie, Chief Executive Officer, and David Stirling, Finance
Director, have resigned from the Board of the Company with immediate effect.



Following completion of the disposal, the Company has become an investing
company under the AIM Rules for Companies. If the Company has not made
substantial investments by 30 June 2008, the directors of Brightview plc intend
to give shareholders the opportunity to vote at an extraordinary general meeting
to return any remaining cash to shareholders.



Further information on the disposal, use of proceeds and proposed investing
strategy of the Company can be found in the Notice of EGM sent to shareholders
dated 6 July 2007.



The Company also announces that its registered office address has been changed
to 73 Wimpole Street, London, W1G 8AZ.





                                    - ENDS -








                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                                                                                                    

a d v e r t i s e m e n t