20th Sep 2005 17:53
Chime Communications PLC20 September 2005 CHIME COMMUNICATIONS PLC ('Chime') CHIME ACQUIRES REMAINING SHARES OF DE FACTO COMMUNICATIONS LIMITED ('De Facto') Chime announces that it has today exercised its option to acquire theoutstanding shares of De Facto, a leading healthcare and life science publicrelations consultancy based in London. 40 per cent of the shares were acquired in December 2004 and March 2005 for anominal consideration and the remaining 60 per cent of the shares are now beingpurchased for an initial cash consideration of £219,000. Deferred considerationswill be paid up to a maximum total consideration of £2.0 million based on thepretax profits of De Facto for 2005, 2006, 2007 and 2008. Deferred considerationis payable 50 per cent in Chime shares and 50% in cash. Lord Bell, Chairman of Chime, said: "This acquisition extends our involvement inthe health sector and is highly complementary to our existing healthcarebusiness - Ozone. We expect the businesses to work closely together." - ENDS - For further information, please contact: Lord BellChairman, Chime Communications PLC Tel: 020 7861 8515 Robin TozerBell Pottinger Corporate and Financial Tel: 020 7861 3891 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
CHW.L