27 Apr 2007 07:00
Embargoed: not to be released until 7.00 am on 27 April 2007 Sterling Green Group plc ("the Company") (formerly Hamilton Partners plc) Admission to trading on AIM
Further to the announcement made on 3 April 2007, the Company has now completed the acquisition of Sterling Green Group Limited ("Sterling Green") for an initial consideration of ‚£950,000 satisfied by the issue of 59,375,000 new ordinary shares. The enlarged issued share capital following the transaction is expected to be admitted to trading on AIM at 8.00am this morning with the ticker SGG. The Company's ordinary shares will continue to be quoted on the PLUS platform and trading through the PLUS platform is intended to enhance investor choice, improve liquidity for shareholders and provide greater access to investors.
At 1.25p, being the closing middle market price of an ordinary share in the Company on PLUS Market on 26 April 2007, the Company has a market capitalisation of ‚£3.12 million.
Sterling Green was formed in 2003 as a debt management company aimed at providing a range of financial solutions to individuals who are experiencing debt problems.
For Enquiries:Sterling Green Group plc
Michael Edelson, Chairman Tel: 0161 975 0434
Tariq Ali, Chief Executive Tel: 0161 476 7271
John East & Partners Limited (Nominated Adviser and broker)
Simon Clements/Bidhi Bhoma Tel: 020 7628 2200
Background information on Sterling Green
Sterling Green commenced trading in November 2003 as a debt management company aimed at providing financial solutions to individuals who are experiencing debt problems.
Sterling Green currently offers a range of in-house financial solutions including tax debt management solutions which are focused on individuals who owe money to HMRC and who are experiencing difficulties in paying such sums.
Sterling Green has structured its group through the recent incorporation of two of its subsidiaries, Sterling Green (Insolvency) Limited and Sterling Green (Mortgages) Limited. The subsidiaries are currently dormant. However, Sterling Green intends that the IVA (as defined below) and regulated mortgage businesses will be carried on in Sterling Green (Insolvency) Limited and Sterling Green (Mortgages) Limited, respectively. This will enable it to provide services in-house while protecting the integrity of any regulated activities which will be undertaken (once Sterling Green has obtained the relevant regulatory approval). Through the use of decision trees and scripted questioning techniques, Sterling Green's staff are able to assist a client compliantly and efficiently thereby identifying which service(s) are best suited to a client's particular circumstances. This approach will allow Sterling Green's group to benefit from the income from its various proposed financial solutions services in-house without the need to refer the client elsewhere.
STERLING GREEN GROUP PLC