Completion of Acquisition
13/09/2005
Further to the announcements dated 25 August 2005 and 12 September 2005, Charter is pleased to announce the successful completion of the acquisition of the minority interest in the Company’s South American welding and cutting businesses (the “Acquisition”). Charter shareholders approved the Acquisition on 12 September 2005. 6,424,914 ordinary shares in the Company, issued to the vendors as part consideration for the Acquisition, with a value of approximately $38 million (£21 million), were listed on the Official List and admitted to trading on the London Stock Exchange this morning.
Enquiries:
| Charter plc | +44 (0)20 7404 5959 |
| David Gawler | |
| Robert Careless | |
| Hoare Govett Limited | +44 (0)20 7678 8000 |
| Julian Goodwin | |
| Andrew Foster | |
| Brunswick | +44 (0)20 7404 5959 |
| Andrew Fenwick | |
| Pamela Small |
Hoare Govett Limited, which is authorised in the United Kingdom under the Financial Services and Markets Act 2000 and which is regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Charter plc in connection with the Acquisition and for no one else and will not be responsible to anyone other than Charter plc for providing the protections afforded to clients of Hoare Govett Limited or for providing advice in relation to the Acquisition.