SCEL Sceptre

TIDMSCEL

RNS Number : 9285W

Sceptre Leisure PLC

29 November 2010

Sceptre Leisure Plc

("Sceptre" or the "Company")

Acquisition of the assets of RV Smith

Sceptre, one of the leading suppliers of amusement machines in the UK, is pleased to announce that it has acquired the machine assets and operations of RV Smith (Leisure) Limited, a southern UK based supplier of amusement machines. The assets being purchased comprise 925 machines in 277 leisure sites. These will be integrated into Sceptre's existing nationwide depot network consolidating Sceptre's increasing market position in the south of England. This acquisition follows on from that of Australian 8 Ball Limited in December 2009, and underlines Sceptre's ability to identify and consolidate selected acquisitions in a quick and efficient manner.

The total consideration payable for the assets is GBP1.2 million, to be satisfied by a cash payment of GBP800,000 from the Company's existing resources and the issue of 1,444,043 new ordinary shares at 27.7p to the vendors. These ordinary shares will rank pari passu with existing Ordinary Sceptre shares and represent approximately 2.6% of the total issued share capital of the Company. The vendors have undertaken not to dispose of their new ordinary shares for a minimum period of 6 months following Admission other than in limited circumstances. Application has been made for admission of the ordinary shares to trading on AIM. Admission is expected to occur on 3 December 2010.

Ken Turner, CEO of Sceptre Leisure said,

"This acquisition further strengthens and consolidates our footprint in southern England. It builds on our national capability and after swift integration with the rest of our network will enable us to improve even further the market leading service we offer our customers."

29 November 2010

Enquires

 
 Sceptre Leisure plc 
  Ken Turner                          01772 694242 
 Seymour Pierce (NOMAD) 
  Sarah Jacobs                        0207 107 8000 
 College Hill 
  Matthew Smallwood / Jamie Ramsay    0207 457 2020 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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