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OPT: Deal with British company

07/04/2010 14:44
On March 31, Options Cassoulides Plc (Options) proceeded with the purchase of 100 million shares in the British company Western & Oriental Plc ( against the sum of GBP 1.5 million.

Western & Oriental Plc (W&O) is listed in the A.I.M. market of London and is actively involved in the organization of conferences and trips. The purchase was carried out via a share capital increase and an issue of new shares, which will start trading in A.I.M. of London on April 8, 2010.

The aforementioned purchase secured to Options a stake of 27.8% in W&O. This shareholding is an investment held for trading, which Options completed due to the connection of the activities of the two companies that might lead to a wider cooperation.

The other significant shareholders of W&O are Goldman Sachs International 30.000.000 13,16, Fortelus Capital Management 25.050.000 10,99, Credit Agricole Group 23.260.000 10,21, Cyrus Capital Partners LP 15.720.000 6,90, Allianz Insurance PLC 12.400.000 5,44, Albion Investments 10.000.000 4,39, Tosca Small Cap 9.450.000 4,15 and Schroder Ventures 8.000.000 3,51.

In the first nine months of 2009, W&O achieved sales of GBP 57.6 million, while it suffered losses of GPB 0.8 million. W&O has no loans.