Completion of Disposal
27/09/2023 14:37
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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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