Cariboo Gold Mines Plc Completes Purchase of Holmes Investment Properties
The Board of Cariboo Gold Mines Plc have announced that the Company has acquired 100% of the issued share capital of Holmes Investment Properties Ltd. The agreed purchase price is €57.5 million (£50 million) with the consideration to be satisfied by the issue of new shares at a price of €0.10 cents per share in Cariboo Gold Mines Plc. Inclusive of costs associated with the transaction, a total of 300,000,000 new Ordinary shares and 300,000,000 new Preference shares will be issued. These are subject to approval at a forthcoming General Meeting. The Preference shares are freely convertible into Ordinary shares at a price of €0.10 cents per share.
| Shares | Ordinary Shares (nominal €0.01 per share) | Preference Shares |
| No. of shares currently in issue | 25,000,000 | 0 |
| New shares | 300,000,000 | 300,000,000 |
| Totals | 325,000,000 | 300,000,000 |
The Company has also announced that Mr Martin Helme and Mr Nicolas Holmes, both directors of Holmes Investment Properties, have consented to act as directors of Cariboo Gold Mines Plc, which has confirmed such appointments as required with the Registrar of Companies as in accordance with the terms of the Small Business, Enterprise and Employment Act 2015 (“SBEEA”). Their appointment will strengthen the management team as the company embarks on its next chapter.
The transaction speeds up the business proposition of Holmes Investment Properties, which acts as the property company to the entrepreneur Mr David Lloyd for his new enterprise. Mr Lloyd’s latest venture will benefit because Holmes Investment Properties will now have new access to capital markets resulting from the takeover by Cariboo Gold Mines Plc, which also provides investors with an opportunity to participate.
Holmes Investment Properties has an exclusive contract to fund and build the first twelve sports activity centres for Mr Lloyd’s Company. Over his long career, Mr Lloyd has founded two multi-million pound businesses: David Lloyd Leisure and – with his son Scott – Next Generation Clubs; and has recently spotted a new gap in the market for one-stop, multi-exercise parks that will offer both brilliant indoor and outdoor activities. The plan is for the first parks to open in 2018, with all twelve open by 2021. Holmes Investment Properties will own the land and fund the purchase and construction of the parks. After the construction, Mr Lloyd’s company will fit out and operate the properties.
Martin Helme, CEO of Cariboo Gold Mines Plc said: “We believe that Mr. David Lloyd is the most successful sports venue entrepreneur in Europe, and he is now concentrating on building a unique, exciting business that people will flock to. Holmes Investment Properties, our property division, are experts in funding and development, so it makes sense for Mr Lloyd to leave this part of the process to us.”
Mr David Lloyd, Executive Chairman and majority shareholder in the adventure park concept said: “I’m thrilled to have the chance to use my experience in the leisure industry and transfer it to this new sector. I’m convinced that our adventure parks will be a great success and Holmes Investment Properties have proven to be the perfect partners.”
