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Long Botham Boats Gives Notice of Acquisition
The acquisition was effected through a newly incorporated, wholly owned subsidiary of the Company, Little John Limited, and was 100% financed by a 7 year loan from the Bank of Butterfield for $2,300,000.
Little John Limited will enjoy a 20 year lease on the premises occupied by the Robin Hood with the Right of First Refusal on sale.
The acquisition of the Robin Hood and the incorporation of Little John Limited had previously been approved by the Shareholders of the Company at a Special General Meeting held on 17 April 2003.
This Notice is given in compliance with the BSX Listing Regulations covering Disclosable Events.