Scottish Radio Holdings (SRH) has today taken a step towards expanding its businesses and writing off debt by issuing £75 million worth of new shares. Just under five and a half million new shares in the company have been placed at £14 each, increasing the group’s market capitalisation to over £450 million.
SRH is planning to develop its business through investments and acquisitions and the share issue gives it a substantial warchest with which to do so. Lord Gordon of Strathblane, the company’s chairman, says: “The Board believes that a significant number of investment opportunities will continue to arise.”
Scottish Radio has made 14 acquisitions in the last five years, six of which came in the financial year ended 30 September 1999. The group also announced that trading for the first three months of the new financial year show revenues ahead of the same period in 1999. The company is planning to increase its investment in internet activities, concentrating on e-commerce opportunities.
Scottish Radio Holdings: 0141 306 2242
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