Straight PLC One51 Update (5341N)

TIDMSTT

RNS Number : 5341N

Straight PLC

28 July 2014

 
 Date:                   28 July 2014 
 On behalf of:           Straight plc ("Straight" the "Company" or 
                          "the Group") 
 For immediate release

Straight plc

One51 Update

Straight plc (AIM: STT), the environmental products and services group, is pleased to announce that the Competition and Markets Authority has today cleared the anticipated acquisition of Straight plc by One51 Plastics Holdings Limited.

It is now expected that the transaction will progress according to the revised timetable announced on 30 June 2014 with the cancellation of admission of Straight Shares to trading on AIM due to take place on 12 August 2014.

For further information, please contact:

 
 Straight plc 
 Jonathan Straight, Chief Executive      0113 245 2244 
 
 Redleaf Polhill 
 Rebecca Sanders-Hewett 
  Jenny Bahr 
  Rachael Brown                          0207 382 4730 
 
 Cenkos Securities 
 Ivonne Cantu/Michael Johnson (Nomad)    0207 397 8980 
 Christian Hobart (Sales)

Notes for editors:

About Straight plc

-- Straight plc provides environmental products and services to both the UK market and overseas.

-- The Group is the UK's leading manufacturer and supplier of specialist kerbside recycling containers, as well as being a key supplier of a broad range of waste and recycling container solutions.

-- Founded in 1993 by the current Chief Executive, Jonathan Straight, the business has since supplied more than 25 million kerbside boxes, baskets and caddies to local authorities across the UK, securing its position as the industry leader.

-- The business operates through two divisions:

- The core Trade Business supplying products in bulk to local authorities, utilities, the waste industry, retailers and other businesses

- The Retail Business supplying a range of proprietary environmentally friendly consumer products directly to the public, often in partnership with a local authority or a utility.

-- Almost two thirds of the products the Group supplies are now produced in Straight's own factory.

-- Straight plc has established diverse overseas sales channels for its products, some of which are manufactured locally to their markets in North America and in Australia. Other markets are serviced from UK production.

-- Straight plc is a founding member of the Social Stock Exchange, an online portal to promote investment in businesses with social or environmental impacts.

Further information about the company and its products can be found at: http://www.straight.co.uk/

This information is provided by RNS

The company news service from the London Stock Exchange

END

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