Latchways Announces Acquisition Of Sigma

Latchways plc announced that on April 11, 2008, it acquired the entire issued share capital of Sigma 6 d.o.o (Sigma 6) from Framework Investment Limited. Sigma 6 is a provider of aluminium guardrail systems and is based in Izola, Slovenia. The consideration payable was an initial cash consideration of EUR 1,600,000. Further deferred consideration will be payable based on future sales revenues of the guardrail system, with the aggregate deferred consideration estimated at between EUR 400,000 and EUR 800,000. The transaction was funded out of existing cash reserves, as will be the deferred consideration.