Acquisition

RNS Number : 4903Q

MS International PLC

18 June 2015

 



 18^th June 2015

MS INTERNATIONAL plc

(the "Company")

Acquisition

MS INTERNATIONAL plc is pleased to announce that it has acquired the entire issued share capital of Petrol Sign B.V. ("Petrol Sign"), a company based in the Netherlands, from Lambooij Holdings B.V. The consideration for the acquisition is €3.4 million on a cash and debt free basis and includes "normalised" working capital. The consideration has been satisfied from the Company's existing cash resources.

Petrol Sign designs, restyles, produces and installs the complete appearance of petrol station superstructures and forecourts. The acquisition will enhance and widen the ability of the Company's 'Petrol Station Superstructure Division' to offer a more complete package of services to customers.

For the financial year ended 31^st December 2014, Petrol Sign had unaudited revenues of €4,156,000 (€3,190,000:2013) and an unaudited profit before taxation of €446,000 (€196,000:2013). As at 31^st December 2014, Petrol Sign had unaudited net assets of €756,000.

For further information please contact:

MS INTERNATIONAL plc

Michael Bell                                                                                                   Tel: [phone]

Shore Capital

Nomad and Broker

Bidhi Bhoma/Patrick Castle                                                                            Tel: [phone]

 

END

 

 

ACQUBUNRVWANAAR