10th Jan 2005 07:00
10th January 2005 Daily Mail and General Trust plc (`DMGT') Acquisition of further 15% stake in George Little Management LLC dmg world media, the exhibitions division of DMGT, has announced theacquisition of a further 15% stake in George Little Management LLC ('GLM'), thelargest privately-held tradeshow management company in the United States,bringing its total shareholding in the company to 40%.The existing terms for the acquisition of the remaining shares in GLM willremain in place, which means that dmg world media will acquire a further 11% ofthe shares between 2006 and 2010 and the remainder by 2014. Additionally, ithas now been agreed that, whereas under the existing arrangements the vendorscould put all their shares to DMGT at any time from 2006 onwards, they will nowbe limited to a maximum of 20% of the shares in GLM in any one year.The total cost for the acquisition of the further 15% stake is US$35.1 million(‚£18.5 million). We expect the acquisition to be earnings enhancing beforegoodwill amortisation during the current year.Enquiries to:Mark Alcock, Deputy Chief Executive Officer, dmg world media 020 8515 2170Peter Williams, Finance Director, DMGT 020 7938 6631 Daily Mail and General Trust plc Northcliffe House, 2 Derry Street, London, W8 5TT Tel 020 7938 6000 Fax 020 7938 4626 www.dmgt.co.uk Registered in England and Wales No. 184594ENDRelated Shares:
DMGT.L