Friday, November 16, 2023
Northern Bear buys Jennings Properties Ltd
Northern Bear Plc has acquired Leeds-based roofing contractor Jennings Properties Ltd and its subsidiary Jennings Roofing Ltd for £5.1m.
The integrated building materials and services supplier said of the total, £3.32m will be satisfied in cash, and up to a further £0.6m in cash, while the balance £1.27m will be settled via the issue of about £1.03m Northern Bear's new shares.
Following the share issue, the company's issued share capital will comprise £16.95m shares. For the year to end-April, Jennings achieved a combined pretax profit of £0.68m and an aggregate turnover of £7.1m.
The integrated building materials and services supplier said of the total, £3.32m will be satisfied in cash, and up to a further £0.6m in cash, while the balance £1.27m will be settled via the issue of about £1.03m Northern Bear's new shares.
Following the share issue, the company's issued share capital will comprise £16.95m shares. For the year to end-April, Jennings achieved a combined pretax profit of £0.68m and an aggregate turnover of £7.1m.
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