focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksNBI.L Share News (NBI)

  • There is currently no data for NBI

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Northbridge Industrial Raises GBP7M For Tasman Oil Tools Buy

Wed, 30th Jun 2010 07:27

LONDON (Dow Jones)--Industrial services and rental company Northbridge Industrial Services PLC (NBI.LN) Wednesday said it has conditionally raised GBP7 million to help fund the acquisition of Perth-based rental equipment firm Tasman Oil Tools Pty. Ltd. for A$16.9 million. Chief Executive Eric Hook said the deal would significantly increase the size of Northbridge and broaden its presence in the Asia Pacific region. The acquisition is expected to be immediately earnings enhancing. The acquisition of Tasman, which focuses on the Australian oil industry, will be paid for using the funds raised as well as new banking facilities and its cash resources. Arbuthnot Securities has placed 5,606,000 new shares with new and existing institutional and other investors at 125 pence a share--a discount of around 6% to the closing mid-market price Tuesday, raising around GBP7 million. Both the placing and the acquisition need shareholder backing and a meeting will be held July 22. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; rachael.gormley@dowjones.com (END) Dow Jones Newswires June 30, 2010 02:27 ET (06:27 GMT)
More News
30 Jun 2010 07:00

Northbridge Ind Serv Proposed Acquisition And -4-

The Extraordinary General Meeting will be held at the offices of Buchanan Communications, 45 Moorfields, London EC2Y 9AE at 10.00 a.m. on 22 July 2010, at which the Resolutions will be proposed. A copy of the circular containing further details of the Placing and incorporating a notice of EGM and Fo

Read more
30 Jun 2010 07:00

Northbridge Ind Serv Proposed Acquisition And -3-

million) to be satisfied by A$12.3 million (GBP7.1 million) in cash from the proceeds of the Placing, the Bank Facility and the Group's cash resources and the issue of Consideration Shares representing A$1.6 million (GBP0.9 million). In addition, subject to warranties given by the Vendor being satis

Read more
30 Jun 2010 07:00

Northbridge Ind Serv Proposed Acquisition And -2-

whether to use the proceeds to finance other carefully selected acquisitions, which would be approved if necessary by Shareholders, and/or consider the possibility of returning cash to Shareholders. 2. Background to and reasons for the Acquisition and Placing Northbridge's strategy is to b

Read more
30 Jun 2010 07:00

Northbridge Ind Serv Proposed Acquisition And Placing

TIDMNBI RNS Number : 4760O Northbridge Industrial Services PLC 30 June 2010 ? 30 June 2010 NORTHBRIDGE INDUSTRIAL SERVICES PLC ("NORTHBRIDGE", THE "COMPANY" OR THE "GROUP") PROPOSED ACQUISITION OF TASMAN OIL TOOLS PTY LIMITED PLACING OF

Read more
14 Jun 2010 15:08

Northbridge Industrial Services Sees FY In Line With Market Views

LONDON (Dow Jones)--Northbridge Industrial Services PLC (NBI.LN), an industrial services and rental company said Monday overall activity has continued to grow and enquiries and quotes for the sale of manufactured units has increased compared with the levels of last year. MAIN FACTS: -Rental

Read more
18 May 2010 14:04

Small caps: Paddy Power, Avis Europe, Plexus...

Irish bookie Paddy Power says 2010 has seen very strong revenue performance in online (total gross win (ex Australia) +32%) and good bet volume growth across all channels. "Following a run of adverse sporting results in 2009 the group's sportsbook gross win percentages have returned to normal expe

Read more
25 Mar 2010 17:36

Small Caps round-up: Digital Barriers, Northbridge Industrial, Nanoco..........

AIM shell company Digital Barriers has made its first acquisition since joining AIM three weeks ago. The shell will pay up to £2.5m for Security Applications Ltd, which supplies thermal imaging equipment for perimeter surveillance. This is the first step in Digital Barriers' strategy to provide pr

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.