ARN Ardent Grp

RNS Number:8951B
Ardent Group PLC
24 April 2006


24 April 2006

         Seniors Finance Plc ("the Company" formerly "Ardent Group Plc")

                       Admission to AIM and Change of Name

Seniors Finance Plc announces that at the Extraordinary General Meeting ("EGM") 
of the Company, which took place earlier today, all the resolutions set out in 
the admission document dated 31 March 2006 including those in relation to the:

(i)     acquisition of the entire issued and to be issued share capital of 
        Shared Home Investment Plan Public Limited Company ("S.H.I.P.");

(ii)    raising of #481,250 through the allotment and exercise of 6,875,000 
        ordinary shares pursuant to the terms of the Ardent warrant instrument;

(iii)   allotment of up to an aggregate amount of 8,000,000 ordinary shares 
        pursuant to the terms of the S.H.I.P. warrant instrument;

(iv)    name of the Company to be changed to Seniors Finance Plc

were duly passed by shareholders. The enlarged issued share capital of the 
Company will be admitted to trading on AIM at 8.00am on 25 April 2006.

The consideration for the acquisition of S.H.I.P. has been satisfied by the 
issue of 73,333,333 ordinary shares in Ardent. Based on the mid-market price of 
an Ardent share on 21 April, being the last day immediately prior to the EGM, 
the consideration paid for S.H.I.P. is #11.0 million.

S.H.I.P. is a specialist provider of equity release products for senior citizens 
in Ireland. Equity release is the generic term used to describe financial 
products that allow homeowners to realise some of the ownership value in their 
property.

The resolution relating to the change of name of the Company to Seniors Finance 
Plc has been implemented in order to reflect its new activities. The Registrar 
of Companies has issued the certificate of incorporation on change of name and 
this change of name will become effective for London Stock Exchange purposes on 
25 April 2006, at which time dealings in Seniors Finance Plc will commence on 
AIM.

The Company's stock code will change from ARN to SEN with effect from 08.00 on 
25 April 2006.

The number of ordinary shares in issue on admission will be 92,083,333.

For further information please contact:

Seniors Finance Plc:
Billy Kane, Chairman & Chief Executive                        +353 (0)1 664 9333
Rodger Sargent, Non-Executive Director                             020 7399 4260

MRPA Kinman:                                                  +353 (0)1 703 8619
Ray Gordon                                                   +353 (0)87 241 7373



                                                                        





                      This information is provided by RNS
            The company news service from the London Stock Exchange

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