Acquisition
2006年10月2日 - 4:03PM
RNSを含む英国規制内ニュース (英語)
RNS Number:7601J
Medal Entertainment & Media PLC
02 October 2006
2 October 2006
Medal Entertainment & Media plc
("MEM" or "the Company")
Acquisition of UGD/Britannia Music
MEM is pleased to announce that it has completed the acquisition of the business
engaged in direct marketing of DVDs and CDs known as UGD/Britannia Music. MEM
has acquired the entire issued share capitals of UGDJ Limited, UGD Jersey
Limited and UGD UK Limited (together referred to herein as "UGD") for a total
consideration of #1.5 million payable on 31 March 2008 ("the Acquisition"). The
consideration will be paid in cash or, at the option of the vendors, will be
satisfied by the allotment and issue of shares in the capital of MEM. The
Acquisition represents a substantial transaction for the purposes of Rule 12 of
the AIM Rules.
UGD/Britannia Music, is engaged in the direct marketing of home entertainment to
a total database of over 5.5 million names and over 570,000 e-mail addresses.
UGD has an outsourced fulfilment facility in Jersey.
In the year ended 31 December 2005, UGD achieved sales of approximately #25.7
million and a loss before tax of approximately #10.9 million as a result of
one-off reorganisation costs. The net assets of UGD acquired by MEM stood at
approximately #4.6 million at 31 December 2005, excluding UGD's intercompany
debt which has not been acquired by MEM. In the 8 months ended 31 August 2006,
UGD recorded unaudited sales of approximately #12.0 million.
Commenting on the Acquisition, Steve Ayres, Chief Executive of MEM, said: "We
are very pleased to have completed the acquisition of UGD, which includes some
of the UK's best known brands in direct marketing of home entertainment
products. This acquisition fits very well with MEM's existing direct marketing
business, DDHE, and brings with it a large database of active customers".
Enquiries:
Mariana Spater, Finance Director, MEM Tel: 020 8900 5800
Richard Swindells, Nabarro Wells & Co. Limited Tel: 020 7710 7400
This information is provided by RNS
The company news service from the London Stock Exchange
END
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