Water Hall Group Plc General portfolio realisation (6995H)
24 6월 2013 - 7:40PM
UK Regulatory
TIDMWTH
RNS Number : 6995H
Water Hall Group Plc
24 June 2013
For immediate release
24 June 2013
Water Hall Group plc
("Water Hall" or the "Company")
General portfolio realisation
On 7 May 2013 the Board of Water Hall announced that it had
increased the Company's equity exposure by increasing its holdings
of liquid investment-grade UK equities against a background of
improving market conditions. As set out in that announcement the
Board has continued to evaluate potential investment opportunities.
Subsequently, the Board has been approached with a further
investment opportunity in respect of which it is now at an advanced
stage of negotiations. Accordingly, in order to ensure that the
Company has sufficient immediately available funds to make this new
investment should it proceed, and given the background of
increasing volatility in world equity markets over the course of
the last week, on 21 June 2013 the Board realised through the
market its entire general portfolio for an amount in aggregate of
GBP562,058 in cash (before expenses), which compares to the book
cost of GBP589,886. In addition, the Company sold on the same date
its entire holding of 800,000 ordinary shares in Lloyds Banking
Group Plc ("Lloyds") for GBP498,399. The net book value of the
Company's interest in Lloyds as at 30 June 2012 was GBP248,800.
Together with its other cash balances, the Company's total cash
balances including the sale proceeds are therefore approximately
GBP1.2 million. In addition to its liquid resources, Water Hall's
sole remaining equity investment is its 29.99 per cent. interest in
Petards Group plc, a UK-based AIM-traded company whose activities
embrace the provision of security and surveillance systems to the
transport sector, in particular railways, emergency services
sector, specifically the police and the UK Ministry of Defence.
Accordingly, Water Hall's general portfolio and investment(s) in
associate(s) following completion of the new investments is set out
in the table below. All the investments are in UK listed ordinary
shares unless stated otherwise:
General Portfolio FTSE Sector Current % of General
Investments Market Portfolio
Value
(GBP)
--------------------- ------------------ -------- ---------------
Nil n.a. Nil Nil
Investment(s) in FTSE Sector Current % of Strategic
Associate(s) Market Investments
Value
(GBP)
--------------------- ------------------ -------- ---------------
Petards Group Plc
(AIM) Support Services 537,889 100%
Total Investment(s)
in Associate(s) 537,889 100%
Enquiries:
Water Hall Group Plc www.waterhallgroupplc.com
Raschid Abdullah Tel: +44 (0) 1483 452 333
Beaumont Cornish Limited (Nominated Tel: +44 (0) 20 7628 3396
Adviser and Broker)
Roland Cornish / Michael Cornish
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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Water Hall (LSE:WTH)
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Water Hall (LSE:WTH)
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