5 Mar 2010 07:00
5 March 2010
Cyril Sweett Group plc (the "Company" or "Cyril Sweett")
Acquisition of Padgham Australia and India
Further to the announcement made on 2 February 2010, the Company announces that the acquisition of Padgham & Partners Pty Limited and its subsidiary company, Padghams Cost Management Private Limited, was completed yesterday.
The initial consideration comprises a cash element of A$973,822, which was discharged at completion, and shares in the Company to the value of A$479,643. The share element of the consideration is being satisfied by the issue of 1,013,743 ordinary shares of 10p each in the Company ("Ordinary Shares") at a price of 28.45p per share.
Application is being made for the new shares to be admitted to trading on the London Stock Exchange's AIM market, and is expected to take place as soon as practicable.
Following the acquisition, the Company's issued share capital will consist of 58,596,071 Ordinary Shares with voting rights. Cyril Sweett does not hold any Ordinary Shares in Treasury. Therefore, the total number of voting rights in the Company is 58,596,071 and is the figure which should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.
For further information, please contact:
Cyril Sweett Group plc 0207 061 9053
Francesca Wilson, Company Secretary
Brewin Dolphin Investment Banking 0845 213 4730
Andrew Kitchingman
Sean Wyndham-Quin