Further Potential Acquisition

RNS Number : 1821V

Stranger Holdings PLC

04 April 2019

 

Stranger Holdings plc / Index: LSE / Epic: STHP / Sector: investment

4 April 2019

Stranger Holdings plc ('Stranger' or the 'Company')
Additional Potential Acquisition

Stranger Holdings plc, the London listed investment company, is pleased to announce that it has signed a non-binding Heads of Terms to acquire the entire issued share capital of HCS (North East) Limited ('HCS') for new shares in the Company (the 'Acquisition').  The Acquisition, if completed, would result in Stranger shareholders having a minority interest in the enlarged group (the 'Group').

HCS is principally involved in the provision of goods to local government and social housing; to this end, it is has long term contracts and is revenue generative.  The Acquistion complements the potential acquistion of The Airedale House Group of Companies ('Airedale') announced earlier in the week, which operates within the health and wellbeing sectors and encompasses four revenue generative trading companies.

The Acquisition is subject, inter alia, to the completion of due diligence, documentation and compliance with all regulatory requirements, including the Listing and Prospectus Rules and, as required, the Takeover Code.

The Acquisition, if it proceeds, will constitute a Reverse Takeover under the Listing Rules since, inter alia, in substance it will result in a fundamental change in the business of the issuer.

The Company is working on the preparation of a prospectus in relation to the Acquisition and will, in due course, be making application for the enlarged Company to have its Ordinary Shares admitted to the Official List and to trading on the main market for listed securities of the London Stock Exchange.

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For further information visit www.strangerholdingsplc.com or contact the following: 

Stranger Holdings plc
James Longley	Stranger Holdings plc	[e-mail]
Financial PR
Isabel de Salis / Cosima Akerman	St Brides Partners Ltd	Tel: [phone]

 

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