1st Jul 2005 07:01
Microgen PLC01 July 2005 1 July 2005 Acquisition of R/Base Limited Microgen plc has acquired the entire issued share capital of R/Base Limited ("Rbase"), a UK provider of SAP applications management and consultancyservices. Rbase specialises in providing managed services and is one of onlyfive SAP partners in the UK accredited for both services and hosting. Furtherinformation on Rbase can be found at www.rbase.co.uk . The consideration paid in respect of the issued share capital of Rbase is £1.22million, comprising £0.61 million in cash and £0.61 million by the issue of740,290 new Microgen shares. Application has been made to the UK ListingAuthority and the London Stock Exchange to admit the 740,290 new ordinary sharesof 5p to the Official List. The new shares will rank pari passu in all respectswith the existing ordinary capital. It is expected that admission will begranted on 5 July 2005 and that the shares will be listed on 6 July 2005. Thenet debt of Rbase at completion was £0.43 million which Microgen intends torepay. There are no deferred payments. Rbase is based in Camberley, Surrey, and was formed in 1996. For the 12 monthperiod to 30 April 2005, unaudited accounts report revenue of £3.0 million andan operating profit of £0.04 million. As at 30 April 2005 Rbase had unauditednet liabilities of £0.25 million. Rbase will be integrated into Microgen's Solutions Division and the two founders/shareholders will remain with Microgen. Restructuring charges associated withthe integration, estimated to be in the order of £0.3 million including propertyprovision, are anticipated to be incurred in the current financial year. Contact : Mike Phillips, Group Finance Director 01753-847122 Giles SandersonBen Way, Financial Dynamics 020-7831-3113 www.microgen.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Aptitude