SID Silverdell

RNS Number:4952M
Silverdell PLC
24 January 2008

                                 SILVERDELL PLC


                    EARN-OUT PAYMENT AND ALLOTMENT OF SHARES

                             DIRECTORS' DEALINGS


Silverdell Plc ("Silverdell" or the "Company") announces that a payment of �3
million is being made to the previous shareholders of Silverdell (UK) Ltd in
part settlement of amounts due pursuant to earn-out arrangements in place
following the acquisition of Silverdell (UK) Ltd by way of a reverse takeover of
Bow Lane Capital Plc as announced on 23 June 2006.

Under the terms of the acquisition of Silverdell (UK) Ltd, deferred
consideration would be payable upon attainment of certain earnings before
interest and taxation targets of the Silverdell (UK) Ltd group in the financial
year ending 30 September 2007.

Of the earn-out amount, �1.5 million is payable in cash and �1.5 million will be
satisfied through the allotment of 971,293 new ordinary shares in Silverdell.

Certain of the ordinary shares have been allotted to directors of Silverdell as
follows:

                                           Total number 
Directors               New ordinary        of ordinary           Percentage of 
                     shares acquired    shares now held    issued share capital
                                       
Danny Spicer                 356,562          1,358,690                    3.3%
Sean Nutley                  127,336            448,018                    1.1%


Application will be made to the London Stock Exchange for the new shares to be
admitted to trading on AIM.  It is expected that trading in the new shares will
become effective from 8.00 a.m. on Thursday 31 January 2008.  Following the
issue of the new ordinary shares, the Company's total issued share capital with
voting rights and which is admitted to trading on AIM will consist of 41,654,720
ordinary shares, with one voting right per share.


Enquiries:

  Silverdell Plc
  Chris Sims, Finance Director                      020 7004 2744

  Collins Stewart
  Chris Howard / Oliver Quarmby                     020 7523 8350


Notes to Editors:

Silverdell is a leading nationwide supplier of asbestos removal and consultancy
services to both the private and public sectors. The Company was listed on AIM
as Bow Lane Capital Plc in April 2006.  In July 2006 it acquired Silverdell (UK)
Limited for up to �22.2m, following which it changed its name to Silverdell Plc.
The Company acquired Redhill Analysts Limited, a provider of asbestos
consultancy, survey, air monitoring and contract management services, in
December 2006 for up to �10m. In July 2007, Silverdell acquired Kitsons Group
Limited, which provides asbestos removal, insulation and scaffolding services
for �14m.



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

Silverdell (LSE:SID)
Historical Stock Chart
Von Jun 2024 bis Jul 2024

Silverdell (LSE:SID)
Historical Stock Chart
Von Jul 2023 bis Jul 2024