BIDS.L Regulatory News (BIDS)

19 Jul 2007 09:00

ADDleisure PLC19 July 2007 ADDleisure plc ('ADDleisure' or 'the Company') 19 July 2007 BUPA completes ADDleisure investment & Director Appointment ADDleisure, a market leader in health and leisure products and servicesinnovation, announces that BUPA, through its subsidiary BUPA Finance Plc('BUPA'), has, subject to Admission as defined below, completed its subscriptionfor a 29.9% stake in the Company through a £3.0 million investment by way of asubscription of 60,600,000 new ordinary shares of 0.5 pence each ("OrdinaryShares") at a subscription price of 5 pence per share. Accordingly, application has been made for the admission of 60,600,000 newordinary shares to be admitted to the AIM market of the London Stock Exchange("Admission"). Admission is expected to take place on Friday 20 July 2007. ADDlesiure also wishes to announce that, pursuant to the Company's agreementwith Bupa, Stephen Flanagan will, conditional upon Admission, join the board ofthe Company as a Non-Executive Director. Mr. Flanagan, who has been with BUPAfor 10 years, is currently the Commercial Director for its UK Health insurancebusiness as well as the Managing Director of its risk business, BUPA HealthAssurance, and Managing Director of its health screening and occupational healthbusiness, BUPA Wellness. Prior to this he was with British Airways Plc for 17years where he held a number of senior positions. Stephen David Flanagan, aged 46, hold or has held over the past 5 years thefollowing directorships and partnerships. Current Mercia Investment Advisers Limited The Coventry & Warwickshire Hospital Saturday Fund Independent Healthcare Limited Mercia Healthcare Benefits Services Limited CHP Limited Community Hospital Partners Limited Bupa Insurance Services Limited St Georges Hill Golf Club (Holdings) Limited St Georges Hill Golf Club Limited Bupa Insurance Limited Core Exercise Clinic Limited Bupa Health Assurance Limited Bupa Health at Work Limited Outcome Technologies Limited Occupational Health Care Limited Personal Effectiveness Centre Limited Bupa Occupational Health Limited Bupa Wellness Group Limited Past Partnership in Health Limited There is no further information to be disclosed in line with Schedule 2paragraph (g) of the AIM Rules. * * ENDS * * For further information visit www.addleisure.com or contact: Ben Margolis ADDleisure Plc Tel: 020 7449 1000 Mark Percy/Liam O'Donoghue Seymour Pierce Tel: 020 7107 8000 Isabel Crossley St. Brides Media & Finance Ltd Tel: 020 7242 4477 About ADDleisure plc Floated on AIM in October 2004, ADDleisure believes that the increase inawareness of the importance of physical health and well-being has resulted in anopportunity to develop and promote new highly differentiated offerings to thehealth and leisure sectors. It has three key investments: Fitbug Limited, developers of an online personalhealth and well-being coach; Digital Plantation Limited, developers of Ez-Bookintelligent booking software; and Movers and Shapers Limited, a groundbreakingretail concept for health and fitness services. The Company has a highly experienced management team including Allan Fisher,founder and former CEO of Holmes Place plc; David Turner, founder and formerdirector of LA Fitness plc; and David Cummin, founder and former director ofMembertrack Limited, a leading club membership software provider. Additionally,Michael Warshaw, former Chairman of Molton Brown, is a consultant to theCompany. About BUPA BUPA is the UK market leader in health and care with a strong internationalpresence. Established in 1947, it has over 8 million customers in 190 countriesand 46,000 employees. Its main interests are health insurance, hospitals, carehomes for older people and young disabled, health assessments, workplace healthand childcare services. BUPA Travel offers a bespoke travel insurance service.Sanitas in Spain, HBA in Australia, IHI in Denmark and AMEDEX in the US are allpart of the BUPA Group which also has centres in Hong-Kong, Thailand and SaudiArabia. BUPA is a company limited by guarantee and does not have any sharecapital. As a result, it can focus on its customers, helping then to livelonger, healthier lives and can reinvest all of its profits to do this - this isthe dividend that BUPA provides. This information is provided by RNS The company news service from the London Stock Exchange