Diamond Bus North West

[Winston]

RE: Diamond Bus North West

(03/06/2023 20:27)moreton407 Wrote:  Does cash get exchanged too?

As per the Rotala RNS:

The Company will receive cash consideration of, in aggregate, approximately £30.4 million for the assets included within the two disposal stages outlined above. The total unaudited net book value of these assets, at their respective dates of sale, is expected to be approximately £23.0 million. The proceeds of the Proposed Disposals will be used as follows:


1. to repay the mortgage and hire purchase debt, totalling approximately £14.9 million, related to the assets which are being disposed of;

2. to repay the remaining outstanding drawings on the Company's Revolving Commercial Facility, totalling £10.8 million, which resulted from the Tender Offer to return £10.0 million to shareholders in February 2023 and the property purchase in March 2023; and,

3. in respect of the balance of the consideration, to strengthen the Company's balance sheet.

http://otp.investis.com/clients/uk/rotal...id=1691633