Acquisition

16 Aug 2006 16:36

Volvere PLC16 August 2006 Volvere plc16 August 2006 Volvere plc ("Volvere" and "the Company") 16 August 2006 Substantial Transaction Volvere plc announces today that it has acquired 1,306,600 Ordinary Shares ofGBP4 each in NMT Group PLC ("NMT") representing 15% of the total issued ordinaryshare capital of NMT, for an aggregate cash consideration of GBP653,297.Following this transaction Volvere has an interest in 2,604,683 Ordinary Sharesin NMT, representing 29.9% of NMT's Ordinary Shares in issue. NMT is an investing company listed on AIM. For the year ended 31 December 2005NMT's results showed a loss after tax of GBP1,364,000 on sales of GBPnil. At 31December 2005 NMT's net assets amounted to GBP5,895,000, of which cashrepresented GBP6,090,000. At the same time Volvere has disposed of its interest in a contract fordifference over 1,306,600 ordinary shares in NMT, and as a result the Company'sbeneficial interest in NMT remains unchanged. EnquiriesVolvere plcJonathan Lander 020 7979 7596 This information is provided by RNS The company news service from the London Stock Exchange