Hummingbird Resources Regulatory News (HUM)

15 Sep 2006 07:01

Farley Group PLC15 September 2006 Farley Group Plc Acquisition of Wright Todd Property Services Limited Farley Group ("Farley" or the "Company") today announce that it has acquired thebusiness and certain assets of Wright Todd Property Services Limited ("WrightTodd"). Wright Todd was previously a Humberts franchise with offices in Wadhurst andTenterden. The consideration for the acquisition of Wright Todd is £994,289, payable as to£687,859 in cash with the reminder being satisfied through the issue of 483,328ordinary shares in Farley. Application has been made for these new ordinaryshares to be admitted to trading on AIM with admission expected to occur on 20September 2006. Following the issue of these new ordinary shares, the issuedshare capital of Farley will be 40,225,285. Wright Todd had net assets of £221,522 as at 31 December 2005 and madenormalised profits of £147,109 for the year to 31 December 2005. Max Ziff, Chief Executive of Farley, commented: "As part of the acquisition weare delighted that Peter Wright has agreed to join Humberts in a senior capacityin which he will be overseeing the growth of the Humberts brand in East Sussex,Kent and Surrey. Peter is a highly respected professional in the South East ofEngland and I welcome him on to the Humberts Board." For further information, contact: Farley Group Plc - 020 7318 1273Max Ziff, Chief Executive OfficerNigel Cartwright , Chief Financial Officer Corporate Synergy Plc - 020 7448 4400Romil Patel Sky Communications - 020 7385 6999Julia Arnold This information is provided by RNS The company news service from the London Stock Exchange