ROL.L Regulatory News (ROL)

29 Mar 2005 08:00

Rotala plc29 March 2005 FOR RELEASE 8.00AM 29 March 2005 Rotala plc First day of dealings on AIM Rotala plc ('Rotala' or the 'Company') has today commenced trading in itscommon shares on the Alternative Investment market (AIM) under the ticker ROL.Rotala, a newly established company, created with the aim of acquiringbusinesses within the Parking and Transportation Management sectors, has raised£3,200,000 million valuing the company at £4,280,000 million on Admission. Rotala will focus on two distinct areas: • Parking - the Directors anticipate growth in the need for parking services, including the operation of car parks at airports, railway stations, in City Centres and on street parking for local councils; and • The Transportation management sector - the Directors expect opportunities to arise in the market for transportation services, including bus and shuttle services for large corporations and public transport, chauffeur-driven services and Park & Ride services. The company has no trading businesses or investments but upon Admission theDirectors will initiate a detailed analysis of potential acquisition targets.The Directors' intention is to complete Rotala's first acquisition within 6months of Admission. The Directors believe that a series of acquisitions in these sectors could bebrought together to create an intelligent, integrated approach to parking andtransportation management. Following the initial acquisition, the Directors, led by John Gunn asnon-executive chairman, intend to continue to develop the Company by organicgrowth and further investments in businesses that meet its strategic andfinancial criteria. The two other directors are Nick Kennedy (non-executive) andKim Taylor (non-executive with responsibility for finance). On Admission, Rotalawill have approximately £3,300,000 in cash after expenses. The key shareholders at the placing include John Gunn; Prestbury InvestmentHoldings Ltd, and Ludgate Investments Ltd. Durlacher Ltd is the Company's nominated adviser and broker. John Gunn, non-executive chairman said "The increasing growth of car ownership,combined with the limited number of parking spaces, planning restrictions inCity Centres and introduction of Congestion charging, creates greatopportunities for Rotala in this sector. We will focus on companies which haveconsiderable potential but lack investment, scope or corporate experience toallow them to fulfil such potential." - Ends - For further information please contact: John Gunn, non-executive chairman, Rotala T: 020 7236 6236 Grant Harrison, Durlacher T: 020 7459 3600 Katherine Roe, Durlacher. T : 020 7459 3600 Nick Fox, M:Communications. T : 020 7153 1540 This information is provided by RNS The company news service from the London Stock Exchange