27 Sep 2023 14:37
27 September 2023
Rotala Plc
("Rotala", the "Company" or the "Group")
Completion of Disposal
Further to its announcement released on 3 July 2023 Rotala (AIM: ROL.L), an operator of bus routes in the UK for businesses, local authorities and the general public, announces that it has satisfied all outstanding conditions in respect of the Vehicle Purchase Agreement (further details below) and completed the disposal of certain assets comprising the Vehicles (being 134 of the buses used in connection with the Bolton Depot), the Tyres, the Associated Assets (being such spares, consumables and other assets associated with the Vehicles).
On 1 June 2023, the Company announced that it had conditionally exchanged the Vehicle Purchase Agreement in respect of the vehicle disposal outlined above, subject to receiving shareholder approval at a general meeting (which was obtained on 3 July 2023), and meeting customary warranty conditions, including those relating to the ownership and condition of the assets being sold.
Unless otherwise defined, capitalised terms used in this announcement have the same meanings as in the Circular dated 15 June 2023.
Rotala Plc | 0121 322 2222 |
John Gunn, ChairmanSimon Dunn, Chief ExecutiveKim Taylor, Group Finance Director | |
Shore Capital |
020 7408 4090 |
Tom Griffiths / James Thomas / Lucy Bowden (Corporate Advisory)Henry Willcocks (Corporate Broking) |
About the business
Rotala provides a range of transport solutions, ranging from local bus services under contract to local authorities, through to commercial bus routes. It has operations at Heathrow Airport, in the West Midlands and in the North West. Operating companies are Diamond Bus Ltd, Diamond Bus (North West) Ltd, Diamond Bus (East Midlands) Ltd, Hallmark Connections Ltd and Preston Bus Ltd.