Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Havelock Europa PLC (HVE)

  Print      Mail a friend       Annual reports

Thursday 15 July, 2004

Havelock Europa PLC


Havelock Europa PLC
15 July 2004


Havelock, the education supply, point of sale display and retail interiors
group, announces the acquisition of Clean Air Limited, an education supply
business, for a maximum consideration of £6.3 million. This acquisition,
together with the purchase of TeacherBoards (1985) Limited announced on 30 June
2004, represents a further step in Havelock's quest to become a dominant player
in the education supply sector.

Clean Air, based in Bolton, Lancashire, is involved in the design and
manufacture of fume cupboards for use in science laboratories, within the
school, university and industrial sectors, both in the UK and overseas. Fume
cupboards provide a safe working environment for chemical experiments and
processes by removing harmful gases.

The company, founded in 1994, serves its customer base through direct sales from
its headquarters in Bolton and through its sales office in Scotland. Its
customer base includes major contractors working in the education sector,
education furniture suppliers, and end users in the education, health and
industrial markets, including a large number of schools, colleges and

Turnover for the year to 31 December has grown from £0.9 million in 1998 to £4.0
million in 2003. The audited profit before tax for 2003 amounted to £0.3 million
after vendors' profit-related bonuses of approximately £0.5 million. Net assets
at 31 December 2003 totalled £0.4 million. The company is being acquired debt
free with cash balances of £0.1 million. The unaudited management accounts for
the year to 30 June 2004 show improved trading on last year, with an encouraging
order book for the second half of the year.

The consideration payable for the entire issued share capital of Clean Air will
be a sum of up to
£6.3 million, comprising £4.5 million payable on completion and up to an
additional £1.8 million of deferred consideration depending on profits achieved
in 2004 and 2005. No deferred consideration will be payable unless the audited
profits before tax exceed £0.8 million and £1.0 million in 2004 and 2005,

The consideration will be payable in a mixture of cash and loan notes, save for
the payment of £1.0 million on completion in the form of 886,918 ordinary shares
in Havelock (2.7% of the enlarged share capital), which will be issued today at
a price of 112.75 pence per share, being the average of the mid-market price for
the five days preceding completion.

A further 1,553,450 shares are being placed with institutional shareholders at a
price of 110 pence per share, a 1.8% discount to the opening mid-market price on
12 July, the day that the placing was arranged, to provide funding of £1.7
million towards the cash payment due on completion.

Clean Air will operate as an autonomous subsidiary of Havelock under its
existing management team, headed by Keith Collier, its Managing Director, David
Norris, its Sales Director, together the vendors, and Ian Heatherington, the
Contracts Director.

Hew Balfour, Chief Executive of Havelock, commented: 'The purchase of Clean Air
adds significantly to Havelock's interests in the education sector, building on
the acquisitions, in 2001, of ESA McIntosh, the UK market leader in fitted
furniture for schools and universities, and TeacherBoards, a supplier of
teaching equipment, teacher aids and display systems, announced two weeks ago.
The education sector is expected to benefit substantially from rising levels of
investment over the next four years, with annual expenditure in England and
Wales expected to nearly double between 2004 and 2008, as the Government's
programme 'Building Schools for the Future' kicks in.

We are delighted to welcome Clean Air into the Group and to be able to add the
excellent range of fume cupboards, designed and manufactured by Clean Air, to
our existing supply of fitted furniture for science laboratories'.

Keith Collier, Managing Director of Clean Air, added: 'I am very happy that
Clean Air is joining the Havelock Group, with its leading position in the supply
of fitted furniture for school science laboratories. The range of new
opportunities is good, not only for Clean Air, but also for its customers and
employees. '


Havelock Europa PLC                                                 01383-820044
  Hew Balfour (Chief Executive)                                    07801-683 851
  Graham MacSporran (Finance Director)                             07801-683 803

  Bankside Consultants Limited
  Charles Ponsonby                                                 020-7444 4166

                      This information is provided by RNS
            The company news service from the London Stock Exchange

a d v e r t i s e m e n t