News: YES! Project developers in £1.5m shares issue
Oak Holdings, the operators of Rother Valley Country Park and developers behind the YES! Project in Rotherham is looking at the potential placing of new ordinary shares to raise up to £1.5m.
In a trading update, the board announced that it has made considerable operational progress in its trading and is making a number of presentations to potential investors over the coming weeks.
They also announced that Oak is repositioning itself as a sustainable, leisure based business with substantial development interests. The board expects that the Group will be profitable in 2010.
In May, Oak took over the operation and management of the Rother Valley Country Park, with a clear strategy to improve and enhance the existing facilities whilst also embarking on a programme of progressively introducing new attractions.
A programme of investment has commenced which includes a new miniature gauge steam railway and both land and water zorbs.
Chief Executive Steve Lewis said: "The integration of RVCP has been exceptionally smooth and builds on the excellent relationship we have forged with Rotherham Metropolitan Borough Council over the years.
"The response of the RVCP staff during the transition has been most heartening and professional. A structured expansion of facilities in the Park, which should significantly increase visitor numbers, has been agreed with RMBC which will bring lasting benefits to the people of Rotherham, South Yorkshire, and beyond. The introduction of the miniature gauge railway has already generated interest from as far afield as the US."
The Park, which extends to 1,097 acres, will be integrated into Oak's adjacent 327 acre, £300 million YES! Project, the Development Agreement for which was executed in August 2008.
The first phase of the massive YES! Project will include the purpose built arena for the Sheffield Steelers ice hockey team together with a conference hotel.
Oak Holdings website
Rotherham
In a trading update, the board announced that it has made considerable operational progress in its trading and is making a number of presentations to potential investors over the coming weeks.
They also announced that Oak is repositioning itself as a sustainable, leisure based business with substantial development interests. The board expects that the Group will be profitable in 2010.
In May, Oak took over the operation and management of the Rother Valley Country Park, with a clear strategy to improve and enhance the existing facilities whilst also embarking on a programme of progressively introducing new attractions.
A programme of investment has commenced which includes a new miniature gauge steam railway and both land and water zorbs.
Chief Executive Steve Lewis said: "The integration of RVCP has been exceptionally smooth and builds on the excellent relationship we have forged with Rotherham Metropolitan Borough Council over the years.
"The response of the RVCP staff during the transition has been most heartening and professional. A structured expansion of facilities in the Park, which should significantly increase visitor numbers, has been agreed with RMBC which will bring lasting benefits to the people of Rotherham, South Yorkshire, and beyond. The introduction of the miniature gauge railway has already generated interest from as far afield as the US."
The Park, which extends to 1,097 acres, will be integrated into Oak's adjacent 327 acre, £300 million YES! Project, the Development Agreement for which was executed in August 2008.
The first phase of the massive YES! Project will include the purpose built arena for the Sheffield Steelers ice hockey team together with a conference hotel.
Oak Holdings website
RotherhamImages: oakholdings.co.uk
1 comments:
Having run a credit check on Oak Holdings, it would appear that they have a 'tangible' net worth of 'NEGATIVE' £2.2m???
In a world where Dubai is reported to be having finance diffculties is it really feasible to acquire £300m funding for a leisure project in Rotherham?
The world has changed over recent months and so has the mindset of investors.
I don't wish to be negative and I wish the best of look to all at Oak Holdings in sourcing this level of funding in todays finacial market, however it will take more than the takings of a minaiture railway throughout the winter months to generate the funding for this monumentous project.
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