Investment in Bidtimes plc
February 12 2002 - 10:29AM
UK Regulatory
RNS Number:3600R
Meriden Group PLC
12 February 2002
Date 12 February 2002
Contact Russell Stevens, Chief Executive 0121 585 6655
Meriden Group PLC (mobile) 07860 562 621
russell@meriden-group.co.uk
Trevor Phillips
Holborn Public Relations 020 7929 5599
trevor.phillips@holbornpr.co.uk
Meriden Group Plc
Investment in Bidtimes plc
Meriden Group Plc has today acquired 976,000 ordinary shares of 5p each in
Bidtimes plc, representing 19.14 per cent. of the issued share capital of
Bidtimes, at a price of 17.06p per share. The total consideration is £166,506,
which will be settled in cash. Russell Stevens, Managing Director of both
Meriden and Bidtimes, holds 1.18 per cent. of the issued ordinary share capital
of Bidtimes and 86.21 per cent. of Meriden.
Bidtimes is a cash shell quoted on AIM, with £1,004,626 of cash and net current
assets of £900,363 at 31 August 2001. As envisaged on page 12 in its prospectus,
Meriden has been seeking to establish access to third party seed corn and
development capital for its clients. The directors of Meriden intend to enter
into discussions with the Board of Bidtimes with a view to Bidtimes becoming an
investment company directly affiliated to Meriden as a potential provider of
funds to Meriden clients.
- ENDS -
This information is provided by RNS
The company news service from the London Stock Exchange
Meriden (LSE:MRD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Meriden (LSE:MRD)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Meriden Grp (London Stock Exchange): 0 recent articles
More Meriden Group PLC News Articles