10th Jan 2019 11:06
(Correcting the change in share price.)
LONDON (Alliance News) - Ocean Outdoor Ltd on Thursday said its shares have been re-admitted and will resume trading on London's Main Market following the completion of two acquisitions.
Ocean Outdoor - originally named Ocelot Partners Ltd - is a digital advertising operator and its shares have been suspended since March 1 when it announced its acquisition of Ocean Outdoor, which had a GBP200 million enterprise value, and subsequent rename.
This acquisition completed March 28 but was quickly followed by the acquisition of Forrest Media Holdings Ltd, which had a GBP32 million enterprise value and completed in June.
"Ocean performed well during 2018 whilst also successfully integrating Forrest Media into the group. The enlarged group will deliver a compelling and impactful network of national urban audiences for advertisers. With a strong pipeline of new locations set to launch in the near term, we are positive on the outlook for 2019," said Ocean Outdoor Chief Executive Tim Bleakley.
Shares in Ocean Outdoor were quoted at USD7.00 per share on Thursday following readmission in London, down 27% from their last closing price of USD9.57 on March 1.
Related Shares:
OOUT.L