Rotala PLC Completion of Disposal (8778N)
September 27 2023 - 9:37AM
UK Regulatory
TIDMROL
RNS Number : 8778N
Rotala PLC
27 September 2023
27 September 2023
Rotala Plc
("Rotala", the "Company" or the "Group")
Completion of Disposal
Further to its announcement released on 3 July 2023 Rotala (AIM:
ROL.L), an operator of bus routes in the UK for businesses, local
authorities and the general public, announces that it has satisfied
all outstanding conditions in respect of the Vehicle Purchase
Agreement (further details below) and completed the disposal of
certain assets comprising the Vehicles (being 134 of the buses used
in connection with the Bolton Depot), the Tyres, the Associated
Assets (being such spares, consumables and other assets associated
with the Vehicles).
On 1 June 2023, the Company announced that it had conditionally
exchanged the Vehicle Purchase Agreement in respect of the vehicle
disposal outlined above, subject to receiving shareholder approval
at a general meeting (which was obtained on 3 July 2023), and
meeting customary warranty conditions, including those relating to
the ownership and condition of the assets being sold.
Unless otherwise defined, capitalised terms used in this
announcement have the same meanings as in the Circular dated 15
June 2023.
Rotala Plc 0121 322 2222
John Gunn, Chairman
Simon Dunn, Chief Executive
Kim Taylor, Group Finance Director
Shore Capital 020 7408 4090
Tom Griffiths / James Thomas / Lucy Bowden (Corporate Advisory)
Henry Willcocks (Corporate Broking)
About the business
Rotala provides a range of transport solutions, ranging from
local bus services under contract to local authorities, through to
commercial bus routes. It has operations at Heathrow Airport, in
the West Midlands and in the North West. Operating companies are
Diamond Bus Ltd, Diamond Bus (North West) Ltd, Diamond Bus (East
Midlands) Ltd, Hallmark Connections Ltd and Preston Bus Ltd.
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END
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