First Day of Dealings on AIM
Rotala plc
29 March 2005
FOR RELEASE 8.00AM 29 March 2005
Rotala plc
First day of dealings on AIM
Rotala plc ('Rotala' or the 'Company') has today commenced trading in its
common shares on the Alternative Investment market (AIM) under the ticker ROL.
Rotala, a newly established company, created with the aim of acquiring
businesses within the Parking and Transportation Management sectors, has raised
£3,200,000 million valuing the company at £4,280,000 million on Admission.
Rotala will focus on two distinct areas:
• Parking - the Directors anticipate growth in the need for parking
services, including the operation of car parks at airports, railway
stations, in City Centres and on street parking for local councils; and
• The Transportation management sector - the Directors expect opportunities
to arise in the market for transportation services, including bus and
shuttle services for large corporations and public transport,
chauffeur-driven services and Park & Ride services.
The company has no trading businesses or investments but upon Admission the
Directors will initiate a detailed analysis of potential acquisition targets.
The Directors' intention is to complete Rotala's first acquisition within 6
months of Admission.
The Directors believe that a series of acquisitions in these sectors could be
brought together to create an intelligent, integrated approach to parking and
transportation management.
Following the initial acquisition, the Directors, led by John Gunn as
non-executive chairman, intend to continue to develop the Company by organic
growth and further investments in businesses that meet its strategic and
financial criteria. The two other directors are Nick Kennedy (non-executive) and
Kim Taylor (non-executive with responsibility for finance). On Admission, Rotala
will have approximately £3,300,000 in cash after expenses.
The key shareholders at the placing include John Gunn; Prestbury Investment
Holdings Ltd, and Ludgate Investments Ltd.
Durlacher Ltd is the Company's nominated adviser and broker.
John Gunn, non-executive chairman said 'The increasing growth of car ownership,
combined with the limited number of parking spaces, planning restrictions in
City Centres and introduction of Congestion charging, creates great
opportunities for Rotala in this sector. We will focus on companies which have
considerable potential but lack investment, scope or corporate experience to
allow them to fulfil such potential.'
- Ends -
For further information please contact:
John Gunn, non-executive chairman, Rotala T: 020 7236 6236
Grant Harrison, Durlacher T: 020 7459 3600
Katherine Roe, Durlacher. T : 020 7459 3600
Nick Fox, M:Communications. T : 020 7153 1540
This information is provided by RNS
The company news service from the London Stock Exchange
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