Sherwood Computer Services Plc, Gloucester, is paying UKP800,000 for the business and net assets of the City Division of Weir Systems Ltd, paying with the issue of 347,826 new shares, representing 6% of the enlarged capital, to be placed with institutions. Another 65,217 shares will be placed at the same time at 230 pence a […]
Sherwood Computer Services Plc, Gloucester, is paying UKP800,000 for the business and net assets of the City Division of Weir Systems Ltd, paying with the issue of 347,826 new shares, representing 6% of the enlarged capital, to be placed with institutions. Another 65,217 shares will be placed at the same time at 230 pence a share to raise UKP150,000 gross for Sherwood. The assets acquired are valued at UKP400,000 and the business originally traded as Blackadder; it supplies computer systems and services to Lloyd’s underwriters, and the unaudited nine month figures for the operation to September 30 show that it broke even on turnover of UKP726,000.
