Acquisition Completed

13th Feb 2007 07:01

Delling Group PLC13 February 2007 For release 7.00am 13 February 2007 DELLING GROUP PLC (DLG.L) The AIM-listed marketing support services group Acquisition completed Delling Group PLC ("Delling" or the "Company"), the only listed marketingsupport services group on AIM whose principal assets are in Scandinavia,announces that it has issued a total of 14,843,633 new Ordinary Shares of 1p tocomplete the acquisition of Sandbergs Exhibition Group AB ("SEG"), originallyannounced on 16 October 2006. Application has been made for admission of the newOrdinary Shares to trading on the AIM market of the London Stock Exchange. Thenew Ordinary Shares will rank pari passu with the existing ordinary shares ofthe Company. Dealings in the new Ordinary Shares are expected to commence on 17February 2007. Of the shares issued, 3,343,633 have been issued to the vendors of SEG as partconsideration. The remaining 11,500,000 have been issued to a combination ofexisting and new institutional and retail investors in Norway for cash at 10pence per share, raising £1.15m gross of expenses, of which £0.8m will also bepaid to the vendors of SEG. This amount is £10,000 less than previouslyannounced due to a beneficial movement in the exchange rate. The Directors believe that the placing to Norwegian investors shows a growingdemand for Delling's shares in one of its operating countries. The placing is apotential precursor for a dual listing on the Norwegian stock exchange. Althoughsuch a listing would not occur until early 2008, it is something the Board willconsider over the coming months. Amongst the institutions investing is that of the pension fund of Tine, theScandinavian dairy products group, which is now interested in a total of13,250,000 ordinary shares in the Company, which represent approximately 8.0 percent. of the issued share capital of the Company. These shares are held in thename of MP Pensjon. Commenting, Aksel Bratvedt, Chairman of Delling Group, said: "I am delighted to complete another successful acquisition bringing to the Groupfurther earnings and synergies. The placing into the Norwegian investor marketmarks Delling's growth as a business and offers the exciting potential of givingDelling access to an additional pool of investors. Since 2004, Delling has acquired seven businesses and has increased its turnovertenfold through acquisitions and organic growth. The Company is pleased toreport that the rate at which exciting target opportunities continue to presentthemselves has increased and accordingly, we continue to invest heavily, in bothtime and money, to investigate such opportunities thoroughly and to ensure theirsmooth integration, so as to guarantee the optimum return. Indeed, it ispleasing to note that increasingly, opportunities are brought to Delling,reflecting the Company's increased profile." ENDS For further information please contact: Contact:Delling Group PlcAksel Bratvedt, Executive Chairman Tel 020 7484 6160James Robinson, Finance Director Tel 020 7484 6160 Adventis Financial PRTarquin Edwards Tel: 020 7034 4758Peter Binns Tel: 020 7034 4760 This information is provided by RNS The company news service from the London Stock Exchange

---

Related Shares:

Direct Line