Increase of holding in NCI
14 8월 2007 - 1:37AM
UK Regulatory
RNS Number:0115C
Addworth PLC
13 August 2007
Addworth declares 7.55% stake in NCI Vehicle Rescue Plc
Following a purchase of 38,000 shares @ 13p per share on Thursday 9th August
Addworth Plc has increased its holding in NCI Vehicle Rescue Plc to 700,000
shares, representing 7.55% of that company's equity.
Mark Watson-Mitchell, who owns 19.34% of Addworth's equity, is the Non-Executive
Chairman of NCI Vehicle Rescue Plc.
Further information from
Mark Watson-Mitchell, Executive Chairman 020 7638 8750
www.addworth.co.uk
Notes to Editors
Addworth (ADW), which gained admission to AIM on 3rd February 2005, was formed
primarily to act as an 'active capital investor'. The focus is upon the growth
of capital value and the generation of fee income from: establishing and funding
newly quoted sector focused companies; acquiring and developing companies with
growth potential; and taking minority equity positions in undervalued smaller
listed companies.
In the middle of January 2007 the Company established its own insurance company
in Guernsey, called Risk Transfer.
In late January 2007 it also floated Oil and Gas Support Services Plc on PLUS
Markets, a special purpose acquisition company planning to acquire companies
providing services to the global oil and gas sector. In late March it floated
Gaming Ventures Plc, an investor in the mobile and online gaming sector. In July
it floated Uranium Prospects Plc, which is involved in the funding of
exploration and development of uranium prospects.
NCI Vehicle Rescue (NCI), which is quoted on the PLUS Market, specialises in the
provision of vehicle breakdown and roadside assistance recovery. The cover is
currently provided to customers based in the UK, caters for vehicles used in
the UK and Europe and is available to both individuals and businesses.
NCI provides cover for cars, motorcycles and vans and the types of cover have
been specifically designed to compete with other breakdown repair and recovery
services available in the marketplace in terms of level of cover and service as
well as price.
NCI Insurance Services offers a range of insurance products to private
individuals and businesses. This product range includes car, bike and van motor
insurance as well as liability, home, and commercial cover.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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