30th Nov 2006 07:00
Next Fifteen Communications Group plc 30 November 2006 Next Fifteen Communications Group plc increases stake in top UK consumer PRagency Lexis Next Fifteen Communications Group plc ("Next Fifteen" or the "Company") todayannounced that it has further increased its stake in Lexis Public RelationsLimited ("Lexis"), one of the UK's leading consumer PR businesses, by acquiringa further stake in Panther Communications Group Limited ("Panther"), the parentcompany of Lexis. The Company originally announced it had acquired a 25% stake in Panther inAugust 2005 and on 6 April 2006 it announced it had acquired a further 26%,taking its interest to 51%. This latest purchase will take the Company's staketo 76% by acquiring a further 22,814 shares in Panther. The total considerationfor this 25% stake is £2,070,599, of which £1,552,949 was paid in cash and thebalance satisfied by the issue of 756,468 ordinary shares of 2.5pence each inthe Company at a price of 68.43 pence each. It is the intention of Next Fifteen to acquire the entire issued share capitalof Panther by 2010, and the sale and purchase agreement entered into in August2005 provided for a number of purchases over time in order to achieve this. Next Fifteen's majority equity stake in Lexis is evidence of the Company'sambitions to develop its non-technology customer base while also increasing itsability to offer sophisticated consumer PR services to its technology clientbase. Lexis' current clients include Coca-Cola, Dove, 3 Mobile, Norwich Unionand the Barclays Premiership. Following a change in its accounting referenceperiod to coincide with Next Fifteen, in the seven-month period to 31 July 2006,the business generated revenues of £3.75 million and EBITA of £660,000. Application has been made to the London Stock Exchange for the new OrdinaryShares to be admitted to AIM and it is expected that admission will take placeon 6 December 2006. Enquiries: \* TNext Fifteen Communications Group 020 8846 0770Tim Dyson, Chief Executive 001 415 350 2801David Dewhurst, Finance Director 07974 161 183 Merlin 020 7653 6620Vanessa Maydon 07802 961 902Rebecca Penney 07795 108 178\* T Copyright Business Wire 2006Related Shares:
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