Acquisition and placing

16 May 2007 07:01

Sutton Harbour Holdings PLC16 May 2007 Sutton Harbour Holdings plc (the "Company") Acquisition and Placing The Company is pleased to announce that it has acquired two car parks,comprising 400 parking spaces in total, in the environs of Sutton Harbour,Plymouth from Plymouth City Council for a total cash consideration of£2,423,530. The cash consideration has been funded by the placing of 794,600 new ordinaryshares of 25p each (the "Placing Shares"), at £3.05 per share ("Placing Price").The Placing Price represents a discount of 4.7 per cent. to the closing middlemarket price of the Company on 15 May 2007 (being the latest practicable dateprior to this announcement). The Placing Shares represent approximately 3.25 percent. of the current issued share capital of the Company. Application has been made for the Placing Shares to be admitted to AIM andtrading in these shares is expected to commence on 18 May 2007. Following admission of the Placing Shares the issued share capital of theCompany will be 25,241,635 ordinary shares of 25p each. 16 May 2007 This information is provided by RNS The company news service from the London Stock Exchange