Price set for Thomas and Brands Hatch
Friday 01 November 1996
The Britt Allcroft company, which produces "Thomas the Tank Engine and Friends" will be priced at 130p a share, valuing the company at pounds 30m. The placing involves 8.5 million shares with dealings due to start on 6 November.
Brands Hatch Leisure, which operates the famous Kent racing track as well as others at Snetterton, Oulton Park and Cadwell Park, will be priced at 157p.
This values the company at pounds 34.3m. The flotation will raise pounds 9.3m which will be used to reduce bank borrowings and to fund investment in new catering, retail and entertainment facilities at the tracks.
Brands Hatch Leisure recorded pre-tax profits of pounds 1.1m on sales of pounds 11.7m in the year to December 1995. It is forecasting profits of not less than pounds 2.5m for the current year. On the basis of the pro forma earnings per share, the shares will trade on a forward rating of 16. Dealings are expected to commence on 7 November.
Four directors are intending to subscribe for 410,000 shares at the flotation price.
- 1 What happens to your body when you give up sugar?
- 2 Ed Miliband less influential than One Direction's Louis Tomlinson by official Doncaster power list
- 3 Japanese island overrun with cats after population explodes
- 4 Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
- 5 Have sex with your iPad thanks to the new sex toy no-one asked for
California teacher appears to have hanged herself in her classroom
The City of the Monkey God: Archaeologists claim to have found city lost for 1,000 years in remote Honduran jungle
Ed Miliband less influential than One Direction's Louis Tomlinson by official Doncaster power list
Japanese island overrun with cats after population explodes
Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
iJobs Money & Business
£15000 - £18000 per annum: Recruitment Genius: This is a great opportunity for...
£50000 - £60000 per annum + Excellent Salary: Austen Lloyd: An outstanding new...
£20000 - £21000 per annum + uncapped commission: SThree: As a graduate you are...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...