11 May 2016 15:23
WESTERN SELECTION PLC - Further InvestmentWESTERN SELECTION PLC - Further Investment
PR Newswire
London, May 11
WESTERN SELECTION P.L.C.
(the “Company”)
Further investment in Northbridge Industrial Services PLC
The Company announces that, at a general meeting of Northbridge Industrial Services PLC (“Northbridge”) on 5 May 2016, shareholders approved a share placing and open offer, details of which were announced by Northbridge on 18 April 2016. New ordinary shares of 10 pence each in the capital of Northbridge which were the subject of the placing and open offer were admitted to trading on AIM on 6 May 2016. The Company subscribed for 723,632 new ordinary shares of 10 pence each in the capital of Northbridge at a price of 75 pence per new ordinary share under the placing and open offer.
Following this transaction, the Company now holds 3,223,632 ordinary shares in Northbridge which represents 12.45 per cent of Northbridge’s enlarged issued share capital.
David Marshall, the Company’s Non-executive Chairman, is a Non-executive director of Northbridge.