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"Let us take you there"
OAK HOLDINGS OFFICIAL PRESS RELEASES
LEASE OF ROTHER VALLEY COUNTRY PARK SIGNED
ACQUISITION OF RINGWOOD TOWN & COUNTRY EXPERIENCE
NEW CONSULTANCY CONTRACT
SIGNIFICANT PROGRESS ON FUNDING DISCUSSIONS 11/05/2009
Oak Holdings plc (“Oak” or the “Company”), the AIM listed property development
and consultancy group, is pleased to announce that on 7th May 2009 it
executed an Agreement with Rotherham Metropolitan Borough for a 7 year Head
Leasehold interest in the Rother Valley Country Park (“The Park”). Oak will
take over the operation and management of the Park, with a clear strategy to
improve and enhance the existing facilities whilst also embarking on a
programme of progressively introducing new attractions to widen the appeal
of this existing significant destination which currently attracts over
800,000 visitors per annum.
Acquisition of Ringwood Town & Country Experience
After lengthy negotiations, Oak is pleased to announce that conditional
acquisition terms for the acquisition of the Ringwood Town & Country
Experience Ltd ["RTCE"] have been agreed with its owner proprietors. RTCE
is a museum packed with thousands of items of eclectic memorabilia including
a rare Hispano Suiza motor car, and one of only two original "Dam Buster"
bouncing bombs. RTCE also operates a growing restaurant and private function
business. The agreed cost of the RTCE acquisition is £700,000, equal to the
estimated value of the asstes being acquired. The purchase will comprise
£85,000 paid in cash, £435,000 settled in new shares of Oak at the price of
the forthcoming proposed placing and £180,000 in the form of existing
indebtedness. Steve Lewis said, "This acquisition demonstrates Oak's intent
to develop revenue earning opportunities. The skill sets of the management
will also be valuable to Oak in delivering our planned improvements to the
Rother Valley Country Park".
New Consultancy Contract
The Company has also announced that it has executed an Agreement to advise a
private land owner in the North of England to provide strategic advice and
direct all activities on a major, 130 acre tract of development land. Oak has
secured a carried equity interest at a prescribed rate in the eventual
development gain.
Steve Lewis commented; “In the current economic climate, the recognised property
and financial talents of Oak are increasingly pertinent and valuable.
The award of this consultancy contract reflects Oak’s growing reputation as
a creator of viable solutions for challenging sites.
Significant Progress on Funding Discussions
Oak wishes to confirm that it is in advanced discussions with several parties
who have expressed serious interest in investing in Oak. Graham Axford,
Director of Oak said "Several potential investors and also several existing
shareholders have witnessed our determined progress over the years and are
in serious discussions to invest. Each recognises the skills of the management
team and the potential value that we have produced for our shareholders and
for our partner, Rotherham Metropolitan Borough Council, as well as the
sustainable social and employment value that we shall create for the local
area by delivering our inclusive scheme in South Yorkshire". Oak expects to
conclude these serious discussions within the following weeks.
RESULT OF AGM and SHARE CONSOLIDATION 24/05/07
The Company announces that at its Annual General Meeting, held earlier
today, all resolutions proposed were duly passed. -
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EXTERNAL MEDIA COVERAGE ON OAK HOLDINGS
SEPTEMBER 2010
Financial Times
Oak's £350m leisure park plan takes root (4.03mb)
Read More>>
View Archived News
OTHER NEWS
NEW PR CONSULTANTS
Oak have recently re assigned all public relation affairs to:
Rawlings Financial PR Limited
2, Howsham
York
YO60 7PH
Tel: +44 (0) 1653 618016
Fax: +44 (0) 1653 618035
Web: www.rawlingsfinancial.co.uk
CONSULTANCY SERVICES
The crew at Oak are advisors to a major European Investor on four confidential UK schemes in Leeds, Manchester and London.
FUTURE PROJECTS
Future projects negotiations to be advised shortly. |
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