WYG Regulatory News (WYG)

23 Oct 2006 07:01

White Young Green PLC23 October 2006 For Immediate Release 23 October 2006 White Young Green Plc ("WYG") Acquisition of Trench Farrow Limited White Young Green ("WYG"), consultant to the built, natural and socialenvironment, today announces the acquisition of the entire issued share capitalof Trench Farrow Limited ("Trench Farrow"). Trench Farrow is a privately owned niche project management consultancy businessbased in London and Swindon focusing particularly on the corporate fit out andurban regeneration market. The consideration payable at completion by WYG was £4,500,000, being £2,250,000in cash and £2,250,000 satisfied by the issue of 623,097 ordinary shares ("theConsideration Shares"). Application has been made for these Consideration Sharesto be admitted to the Official List of the UK Listing Authority and to tradingon the London Stock Exchange's market for listed securities. Dealings areexpected to commence on 26 October 2006. In addition, further consideration(payable in ordinary shares and / or loan notes at WYG's option) of up to amaximum of £1,400,000 is due if certain performance criteria are met in thefirst year of trading under WYG's ownership. For the year ended 30 June 2006 the profit before taxation of Trench Farrow asextracted without material adjustment from the financial statements for thatyear was £916,654 on turnover of £3,389,627. The gross assets of Trench Farrowat 30 June 2006 were £1,255,747, comprising fixed assets of £55,427 and currentassets of £1,200,320. All of the directors of Trench Farrow have signed contracts of employment withthe WYG group. John Purvis, Chief Executive commented: "The acquisition of Trench Farrow is another important step in the developmentof a comprehensive range of management services within WYG comprising projectmanagement, property management, cost management and health and safetymanagement. It adds specialist complementary expertise in the corporate fit outand urban regeneration markets to WYG's existing project management portfolio inthe public sector and private sector development markets." For further information, please contact: WHITE YOUNG GREEN PLC Tel: 0113 278 7111John Purvis, Chief ExecutiveBob Hartley, Finance Director BUCHANAN COMMUNICATIONS Tel: 020 7466 5000Tim Anderson / Lisa Baderoon / Rebecca Skye Dietrich This information is provided by RNS The company news service from the London Stock Exchange