Acquisition

5 Feb 2007 07:01

White Young Green PLC05 February 2007 For immediate release 5 February 2007 White Young Green Plc ("WYG") Acquisition of Turner Holden Limited White Young Green ("WYG"), consultant to the built, natural and socialenvironment, today announces the acquisition of the entire issued share capitalof Turner Holden Limited ("TH"). TH is a privately owned town planning consultancy based in Wellington, Somerset,which operates primarily in the housebuilding sector. The consideration payable at completion by WYG was £900,000 being £540,000 incash and £360,000 satisfied by the issue of 76,750 ordinary shares ("theConsideration Shares"). Application has been made for these ConsiderationShares to be admitted to the Official List of the UK Listing Authority and totrading on the London Stock Exchange's market for listed securities. Inaddition, further consideration (payable in ordinary shares and / or cash atWYG's option) of up to a maximum of £500,000 is due if certain enhancedperformance criteria are met in the first year of trading under WYG's ownership. For the year ended 31 March 2006 the profit before taxation of TH, as extractedfrom the financial statements for that year and after adjustment for directorsemployment costs, was £138,000 on revenue of £647,592. All the directors of TH have signed contracts of employment with the WYG Group. John Purvis, Chief Executive commented: "Turner Holden brings with it an excellent reputation and strong client basewhich will strengthen and complement WYG's existing town planning operations inthe South West. It will also create opportunities for WYG's environmental andtransportation businesses in the housebuilding sector in the region." For more information please contact: White Young Green PLC Tel: (0113) 278 7111 John Purvis, Chief Executive Bob Hartley, Finance Director Buchanan Communications Tel: (020) 7466 5000 Tim Anderson / Lisa Baderoon / Rebecca Skye Dietrich This information is provided by RNS The company news service from the London Stock Exchange