Sitemaster Ltd &
Propan Homes Plc | Update Date: 04/28/06 |
| Date Announced: 03/08/02 | |
Value (million $USD): 23.9 million U.S. Dollar
16.8 million British Pound |
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| Status: Completed | |
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| Date Announced | 03/08/02 | | |
| Date Originally Announced | 03/08/02 | | |
| Format | Merger | Acquisition techniques | Stock Swap |
| Attitude | Friendly | Agency | n/a |
| Value | 23.9 million U.S. Dollar
16.8 million British Pound | Advisor Fees | n/a |
SYNOPSIS
UK - Propan Homes Plc (PH) acquired the entire issued share capital of Sitemaster Ltd, residential property company, for 16.754 mil pounds ($23.9 mil). The consideration was to consist of 6,323,525 new PH shares valued at 0.854 mil pounds ($1.22 mil), plus the assumption of 15.9 mil pounds ($22.7 mil) in liabilities related to Sitemaster's properties. The consideration shares were valued based on PH's closing stock price of 0.135 pounds ($0.162) on Mar 7, the last full trading day prior to the announcement. |
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| Name | Sitemaster Ltd |
| Industries | n/a |
| City | n/a |
| State | n/a |
| Nation | United Kingdom |
| Incorporated in | n/a |
| Public Status | Private |
| Business Description | Real estate investment firm (REIT) |
| Advisors | n/a |
| Target Sales | 4.0 million U.S. Dollar
2.9 million British Pound |
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| Name | Propan Homes Plc (London AIM : PPH) |
| Industries | Residential construction, nec |
| City | Kent |
| State | n/a |
| Nation | United Kingdom |
| Incorporated in | n/a |
| Public Status | Public |
| Business Description | Construct residential buildings |
| Advisors | Seymour Pierce Group PLC |
| Acquiror Sales | 3.8 million U.S. Dollar
2.7 million British Pound |
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