Purchase of ATMs

RNS Number : 4391F

Cashbox PLC

09 October 2008

 



Press Release

09 October 2008

Cashbox PLC

('Cashbox' or 'the Company')

Dramatic increase in Cashbox Estate

Issue of Equity and Total Voting Rights

Further to the announcement of 30 September, Cashbox (AIM:CBOX), the independent Automated Teller Machine ('ATM') deployer and operator, is pleased to announce that it has successfully concluded negotiations on the balance of owned ATMs in the Cash4All ATM estate, together with the residual interest in the site agreements for the entire estate of 723 ATMs.

The total consideration payable to the Mezzanine debt holders of Cash4All will be settled with a mixture of cash and equity. Cashbox will pay £250,000 cash, and a further £550,000, which will be satisfied by the issue of 9,166,667 new ordinary shares at an issue price of 6p. This purchase takes the total number of new ATMs and sites acquired since June 2008 to 864.

Application will be made for the 9,166,667 ordinary shares to be admitted to trading on AIM and dealings are expected to commence on 15 October 2008.

For the purposes of the Disclosure and Transparency Rules of the Financial Services Authority the Company's total issued share capital at the date of the this notice consists of 144,484,192 ordinary shares of 1p each and one voting right per share. There are no shares held in treasury.

The above figure may 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 Disclosure and Transparency Rules.

Ciaran Morton, Chief Executive, of Cashbox commented:

'By the acquisition of the Cash4All business the Cashbox estate has increased signifficantly, clearly demonstrating our determination to pursue an aggressive expansionist strategy. We confidently expect to integrate this estate speedily into our industry leading technology platform and derive an early benefit from these already transacting machines. 

'In addition to the acquisitions announced, during the last quarter the Company has renegotiated the Hanco settlement agreement on more favourable terms to Cashbox, introduced new institutional shareholders to the shareholder register, and raised new equity for the Company.

'The combination of appropriate acquisitions and the refocusing of our sales drive will continue to bring about significant growth in the business.' 

For further information:

Cashbox plc
Ciaran Morton , CEO	Tel: [phone]
	www.cashboxplc.co.uk
Seymour Pierce Limited
Jonathan Wright	Tel: [phone]

Fairfax I.S. PLC
Simon Stevens	Tel: [phone]

Media enquiries:

Threadneedle Communications
Josh Royston / Graham Herring	Tel: [phone]

 

END

 

 

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