Inactive Instrument

Crestchic

Equities

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GB00B0SPFW38

Crestchic shareholders approve GBP122 million takeover by Aggreko

February 06, 2023 at 05:24 pm EST

(Alliance News) - Crestchic PLC on Monday reported that shareholders approved its acquisition by Aggreko Ltd.

The Burton-on-Trent, England-based industrial equipment supplier reported that scheme shareholders approved its acquisition by Glasgow-baseed energy services company Aggreko at a court meeting on Monday. It said 97% of votes were in support of the scheme.

Further, shareholders approved the acquisition at its general meeting, again with 97% of the vote.

In December, the company announced that it has agreed to a takeover by Aggreko worth GBP122 million.

Shares in Crestchic closed flat at 399.00 pence each on Monday in London. The company has a market capitalisation of GBP112.5 million.

By Abby Amoakuh, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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Company Profile

Crestchic Plc is a United Kingdom-based company, which hires and sells specialist power reliability equipment. The Company's product range comprises a range of loadbanks and transformers, and depots, offices or agents in the United Kingdom, the United States of America, The Middle East, Belgium, Germany, France, Singapore, China and South Korea, Northbridge with a global customer base. This includes utility companies, renewables, the oil and gas sector, data centers, shipping, banking, mining, construction and the public sector. The Company operates through two segments. The Crestchic Loadbanks and Transformers segment is involved in the manufacture, hire and sale of loadbanks and transformers. The Tasman Drilling Tools segment is involved in the hire and sale of oil tools. Its subsidiaries include Crestchic Ltd, Northbridge (Middle East) FZE, Northbridge Transformers NV, Crestchic France S.A.S., Northbridge Australia Limited, Loadbank Hire Services Limited and other.

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