Last checked at 12 Apr 2010 07:00
12 April 2010
Michelmersh Brick Holdings plc
("Michelmersh" or the "Company")
Michelmersh Completes Acquisition of Freshfield Lane Brickworks Limited
Michelmersh, the UK's fourth largest brick manufacturer, confirms that the acquisition of Freshfield Lane Brickworks Limited ("FLB") was completed on 31 March 2010 and that the 7.69 million new ordinary shares being issued in relation to the placing and the acquisition of FLB have now been admitted to trading.
The Company also announces that Alan Hardy and Frank Hanna have now joined the Board. Alan will initially assume the role of Director, responsible for integration of the Group's activities, whilst Frank has been appointed Group Commercial Director and will take charge of all sales and marketing of the Group's range of clay products.
Eric Gadsden, Chairman of Michelmersh said: "The acquisition of FLB enables us to expand our operations and significantly broaden our customer base. We view it as a very compelling move forward for the business and one from which we can create real shareholder value and establish a strong platform for the Company's future.
"I also welcome Alan and Frank to the Michelmersh Board. We look forward to a very successful future working together."
The Company will announce its final results for the 12 months to 31 December 2009 on 15 April 2010.
For further information:
| Michelmersh Brick Holdings plc Chief Executive Martin Warner
| 01442 870227 |
| Charles Stanley Securities, Nominated Adviser Russell Cook / Carl Holmes
|
020 7149 6000 |
| Tavistock Communications Jeremy Carey/Gemma Bradley | 020 7920 3150 |