WYG Regulatory News (WYG)

1 Mar 2005 07:03

White Young Green PLC01 March 2005 For Immediate Release 1 March 2005 WHITE YOUNG GREEN PLC Acquisition of Robert Long Consultancy Limited & WynThomasGordonLewis Limited White Young Green Plc (WYG), consultants to the built, natural and socialenvironment, today announces the acquisition of Robert Long Consultancy Limited(RLCL) and WynThomasGordonLewis Limited (WTGL). The details of each transactionare as follows: Robert Long Consultancy Limited RLCL is an environmental consultancy specialising in waste managementengineering and advice offering landfill site and waste disposal facilityplanning, licensing, valuation and engineering services. It is also developing agrowing niche in local authority facilities consultancy in relation torecycling, street and grounds cleaning and refuse collection as well as offeringassistance in compliance with increasing environmental regulatory requirements. The business employs 38 people operating from offices in Lyndhurst, St. IvesCambridgeshire and Huddersfield. The Chairman, Mr Robert Long, retires from thebusiness today but all the remaining directors have signed contracts ofemployment with WYG Environmental Limited. For the year to 30th June 2004, RLCL generated a profit before taxation, asextracted without material adjustment from the audited accounts for that year,of £217,207 on turnover of £2,184,337. The net assets of RLCL as at 30th June2004, were £473,859, comprising fixed assets of £196,205, current assets of£804,379, current liabilities of £481,858 and other liabilities and charges of£44,867. The consideration payable at completion by WYG is £1.85m, being £740,000 in cashand £1.11m satisfied by the issue of 396,288 Ordinary Shares, (the "RLCLConsideration Shares"). In addition, further consideration (payable in OrdinaryShares and/or cash at WYG's option) of up to a maximum of £400,000 is due ifcertain performance criteria are met in the first year of trading. John Purvis, Chief Executive, commented: "This acquisition represents a valuable enhancement to our environmental skillsand is perfectly timed to take advantage of rising demand for top-classprofessional advice and assistance in the field of waste management, to addressthe recent EU Landfill Directive and recycling targets and the futurerequirement for a new generation of waste facilities and strategies." WynThomasGordonLewis Limited WTGL is a town planning and urban design consultancy based in Cardiff, employing40 people. The consideration payable at completion by WYG is £780,000, being £350,000 incash and £430,000 satisfied by the issue of 153,517 Ordinary Shares (the "WTGLConsideration Shares"). In addition, further consideration (payable in OrdinaryShares and/or cash at WYG's option) of up to a maximum of £600,000 is due ifcertain performance criteria are met in the first year of trading. For the year ended 29th February 2004, WTGL's profit before taxation asextracted without material adjustment from the audited accounts for that year,was £127,799 on turnover of £2,346,251. The net assets of WTGL at 29th February2004, were £397,853, comprising fixed assets of £314,480, current assets of£881,996, current liabilities of £600,864 and other liabilities and charges of£197,759. All Directors of WTGL have signed contracts of employment with the PlanningDivision of WYG Consulting Limited. John Purvis, Chief Executive commented: "I am delighted to welcome WynThomasGordonLewis to the White Young Green fold.Their established reputation for high quality work and their enviable clientlist of national house-builders and leading Welsh governmental institutionsrepresents an ideal complement to the wide range of skills currently on offerfrom our Cardiff office." Application will be made for the admission of the RLCL Consideration Shares andWTGL Consideration Shares to the Official List of the UK Listing Authority andto trading on the London Stock Exchange's market for listed securities. Dealingsare expected to commence on 8th March 2005. Press Enquiries: John Purvis, Chief ExecutiveBob Hartley, Finance DirectorWhite Young Green Plc Tel: (0113) 278 7111 Tim Anderson / Rebecca Skye DietrichBuchanan Communications Tel: (020) 7466 5000 This information is provided by RNS The company news service from the London Stock Exchange