6th Sep 2005 07:01
Air Music & Media Group PLC06 September 2005 Air Music & Media Group plc ("Air Music" or "the Company") Acquisition Air Music has today agreed to acquire the entire issued share capital of MaximumEntertainment Limited ("Maximum"), which owns the exclusive licence to duplicateand distribute certain Jetix titles, which include such well know children'sbrands as Transformers, Care Bears, Ninja Turtles and Action Man, by way of VHSand DVD in the UK, Channel Irelands and Eire. The aggregate consideration to be paid for Maximum is £379,000, consisting of£75,800 in cash consideration and 3,790,000 new ordinary shares of the Companyat a price of 8p per share. In certain circumstances, the vendors of Maximum maybe entitled to receive additional consideration in the form of new ordinaryshares, based on the difference between the average closing mid-market price ofordinary shares of Air Music for the 5 business days ending on 28 February 2006and 8p per share. Other than the licence described above, Maximum does not have any othersignificant assets. John French, Chairman of Air Music commented: "This acquisition and its additional products will serve to further enhance ourrecently expanded distribution and product offer to our customer base, via ourstrengthen routes to market." Enquiries: Air Music and Media Group plc www.airmusicandmedia.comJohn French, Chairman 078 3672 2482 Seymour Pierce 020 7107 8000Mark Percy / Ewan Leggat This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MUBL.L