ROL.L Regulatory News (ROL)

3 May 2006 07:02

Rotala PLC03 May 2006 Press Release3rd May 2006 Rotala plc ("Rotala" or "the Company") Acquisition of Birmingham freehold site The Board of Rotala is pleased to announce that, as presaged in the announcementdated 30th March 2006, the Rotala Group has completed the acquisition of thefreehold of Rotala's Birmingham property from The Flights Pension Trust of whichGeoffrey Flight and his family are the beneficiaries. Geoffrey Flight is also anon-executive director of the company's two main operating subsidiaries. This 4.5 acre site at Long Acre in Birmingham comprises a large hardstanding forthe parking of its fleet of coaches and chauffeur-driven cars, an extensivemulti-bay maintenance and repairs building, large stores buildings for parts, anoperations building and an office building. The freehold has been acquired at a price of £2 million, of which £500,000 hasbeen paid in cash from Rotala's own resources and the balance provided by takingout a commercial mortgage on the property. A statement in accordance with Rule 13 of the AIM Rules that the transaction isfair and reasonable insofar as the shareholders are concerned will follow in duecourse. The acquisition of the freehold interest in the depot gives the Company controlof its main operating base. This base offers extensive facilities to accommodateexpansion of the Company's business. It possesses sufficient office andoperational space to enable the group to benefit from the expected synergies tobe derived from future acquisitions. It is expected that there will also be asmall saving from the replacement of rent with mortgage interest payments. For further information, please contact: Nick Fox, M: Communications, 0207 153 1540 / 07711 727 618 This information is provided by RNS The company news service from the London Stock Exchange