BRAMALL TO ACQUIRE GELCO FOR UP TO 26.3 MLN DLRS
<C.D. Bramall Plc> said in a statement
accompanying its annual results that it proposed to acquire
Gelco U.K. For some 26.3 mln dlrs.
    Part of the cost will be met by the issue of 2.14 mln new
ordinary Bramall shares which are being placed at 265p each.
    The acquisition will be satisfied by an initial payment of
some 25.3 mln dlrs in cash with further payments of 500,000
dlrs up to a maximum 26.3 mln dlrs. These further payments will
only be made if profits achieved by Gelco for the year ending
July 31, 1987 reach a certain level.
    Bramall shares were trading 6p lower at 278p.
 REUTER
