Acquisition of Milbury

20 Nov 2007 16:40

Eleco PLC20 November 2007 Eleco plc (the "Company") Further re. Acquisition of Milbury Systems Limited ("Milbury") The Company announced on 15 November 2007 the acquisition of Milbury SystemsLimited (the "Acquisition") to be satisfied in part by cash, in part by theissue and placing of 3,000,000 new ordinary shares of 10p each and with thebalance of £225,000 by the allotment to the vendors of Milbury, credited asfully paid, of new ordinary shares of 10 pence each (the "Consideration Shares"), determined by reference to a calculation of the Company's average mid-marketshare price for the preceding 5 business days. The final number of Consideration Shares is 206,610. Accordingly the totalnumber of new ordinary shares to be admitted to trading on AIM in connectionwith the Acquisition is 3,206,610 and the total number of shares in issue of theCompany will be increased to 59,953,239. Enquiries: Eleco plc Ivor Barton - Company Secretary +44 (0)1920 443830 Collins Stewart Europe Limited Philip P. Roe +44 (0)207 523 8350 This information is provided by RNS The company news service from the London Stock Exchange