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Brainspark PLC BSP Completion of Ora Hotel Investment

  Brainspark PLC (BSP) - Completion of Ora Hotel Investment

RNS Number : 7584Q
Brainspark PLC
09 November 2012





9 November 2012



                                Brainspark Plc

                       ("Brainspark" or "the Company")

                                      

                                      

                ORA HOTELS - ACQUISITION OF MAJORITY INTEREST



Brainspark, the AIM  quoted international  investment company  (AIM: BSP),  is 
pleased to announce that it has  today completed its 51 per cent.  acquisition 
of ORH SpA, the hotel chain which operates under the brand, Ora Hotel Group.



The Company paid a total consideration of EUR 1.35 million in two tranches  of 
EUR 800,000 and EUR 550,000. The increase in capital will allow ORH to further
develop its portfolio of hotels around the world.



Two new directors  will be elected  by Brainspark  to join the  board of  ORH, 
including the appointment of a new CFO.



Following this  investment,  Brainspark  has  now  completed  its  acquisition 
strategy for 2012; owning the controlling interest of its four main  operating 
assets, Mediapolis SpA, Sipiem srl, Sosushi SpA and ORH SpA.



The Company will consider further acquisitions in the future, dictated by  its 
investing policy. An investment  committee, to decide upon  and agree any  new 
acquisitions, will be formed after the  AGM and will comprise, Alfredo  Villa, 
Luke Johnson and a third  independent member, who will  be a UK national  from 
the finance industry.





                                    -ends-



For further information please contact:





Brainspark
plc
+39 02 525 051

Alfredo Villa, CEO



Westhouse Securities  (Nominated Adviser  and  Broker) 
+44 (0) 20 7601 6100

Antonio Bossi

Jonathan Haines



Leander                                                             (Financial 
PR)
+44 (0) 7795 168 157

Christian Taylor-Wilkinson







About Brainspark

Brainspark plc  (AIM: BSP)  is an  AIM listed  investment company  pursuing  a 
dynamic strategy to  create a comprehensive  portfolio of companies  primarily 
encompassing the leisure  and real  estate sectors  mainly in  Italy but  also 
other European  countries. The  Company  may be  either  a passive  or  active 
investor and Brainspark's investment rationale ranges from acquiring  minority 
positions with strategic  influence through to  larger controlling  positions. 
For further information, please visit, www.brainsparkplc.com







                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


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