RMA Rasmala

TIDMRMA

RNS Number : 9098C

Rasmala PLC

21 April 2017

Rasmala plc

('Rasmala' or 'the Company')

Further acquisition of interest in Rasmala Holdings Limited

Rasmala is pleased to announce that it has agreed to acquire a further interest in the capital of its subsidiary Rasmala Holdings Limited ("RHL") from minority shareholders. As a result of these acquisitions Rasmala's total shareholding in RHL will increase from approximately 76.3% to approximately 90%.

Total consideration for the 28,943,956 ordinary shares in RHL being acquired is approximately US $6 million.

During the financial year ending on 31 December 2015, RHL generated profits before tax from continuing operations of US$2.6 million.

Zak Hydari, Chief Executive Officer of Rasmala, commented: "We are delighted to have been able to increase our interest in RHL. It was always our objective to own 100% of RHL and this further acquisition will help us towards that target".

Enquiries:

 
 Rasmala plc             Tel: +44 (0)20 7847 
                          9900 
----------------------  ---------------------- 
 Zak Hydari, CEO 
----------------------  ---------------------- 
 Stockdale Securities      Tel: +44 (0)20 7601 
                            6100 
------------------------  -------------------- 
 Antonio Bossi / David 
  Coaten 
------------------------  -------------------- 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 21, 2017 02:00 ET (06:00 GMT)

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