Kazera Global Regulatory News (KZG)

2 Nov 2007 07:01

Worthington Nicholls Group plc02 November 2007 Worthington Nicholls Group plc ("Worthington Nicholls" or the "Company") Issue of equity Worthington Nicholls announces that on 1 November 2007 it issued 3,201,898ordinary shares of 1p each in the Company ("Ordinary Shares") to vendors (the"Vendors") of Euro Property Services (London) Limited ("EPS"). As announced on 1 May 2007, the Company completed the acquisition of the entireissued share capital of EPS on that date. The first tranche of deferredconsideration was payable to the Vendors on 1 November 2007 subject to achievingcertain performance criteria ("First Deferred Consideration"). The First Deferred Consideration is made up of such number of new OrdinaryShares as is equal to £674,800 ("Deferred Consideration Shares") and loan notesin the sum of £674,800. Pursuant to the sale and purchase agreement made between Worthington Nichollsand the Vendors on 1 May 2007, each of the Vendors has undertaken to the Companyand Blue Oar Securities Plc for a period of twelve months from the issue of theDeferred Consideration Shares not to sell nor to dispose of any of their suchDeferred Consideration Shares other than with the consent of the Company andthereafter for a further period of twelve months to dispose of the same onlythrough the Company's broker so as to preserve an orderly market in the OrdinaryShares. Application has been made for admission of the 3,201,898 Deferred ConsiderationShares to trading on AIM. Following the issue of the Deferred Consideration Shares, the Company will have90,203,976 Ordinary Shares in issue. Enquiries please contact: Worthington Nicholls Group 0870 609 1829Alastair Stoddart, ChairmanChris Neilson, Finance Director Smithfield Group 020 7360 4900Reg Hoare / Will Henderson Blue Oar Securities 020 7448 4400Rhod Cruwys / Romil Patel This information is provided by RNS The company news service from the London Stock Exchange