Completion of Disposal
07/07/2023 11:05
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RNS Number : 3626F Rotala PLC 07 July 2023
RNS
7 July 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 Bolton Depot Purchase Agreement (further details below) and
completed the disposal of its Bolton Depot and its associated fixtures,
fittings, plant and machinery to the Greater Manchester Combined Authority
("GMCA") (the "Depot Disposal").
On 1 June 2023, the Company announced that it had conditionally exchanged the
Bolton Depot Purchase Agreement in respect of the Depot Disposal, subject to
receiving shareholder approval at a general meeting, and receiving Landlord's
Consents. Both the requisite shareholder approval at the General Meeting and
the Landlord's Consents have now been obtained.
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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