19th Apr 2005 07:00
Delling Group PLC19 April 2005 For release 7:00 am 19th April 2005 Delling Group Plc Two acquisitions in Norway Delling Group ("Delling Group" or "the Company"), the marketing support servicesgroup, announces that it has exchanged contracts to acquire two businesses inNorway, Unikum Professional Imaging and Andre Worldwide Visual Communications,for a total consideration of £100,000, or approximately one times pre-taxprofit. The acquisitions, which are due to complete on the 1 May 2005, will besatisfied by either a cash payment of £50,000 or the assumption of £50,000 ofdebt by the Company and the remainder of the consideration will be satisfied bythe issue of 139,586 new ordinary shares in the Company at a price of 30p pershare. The acquired privately-owned businesses have a total turnover of approximately£1m and a pre-tax profit of approximately £100,000. Unikum Professional Imagingspecialises in re-touch and scanning photographic work and high end posterproduction. Andre Worldwide Visual Communications specialises in the creation ofexhibition stands. The new businesses, incorporating the assets and keyemployees, will be fully integrated into Delling Group's current businesses inNorway to exploit the customers demand for a "one shop" supplier in themarketing support industry. The acquired businesses have a strong customer base. Commenting on the acquisitions, Geir Lolleng, Chief Operating Officer of DellingGroup, said: "These acquisitions represent an excellent platform to supportDelling Group's strategy of strong organic growth and also exploit the demandfor fully serviced outsourced marketing. The deals have been structured in a wayto optimise the shareholder value and avoid unnecessary dilution for currentshare holders."Geir added: "Delling Group, in line with its strategy, has a number of ongoingdiscussions regarding acquisitions that might or might not lead to deals in thecoming few months. These discussions relate to businesses that range in sizefrom £300,000 to £3m in turnover." For further information please contact: Delling Group Plc Aksel Bradvedt, Chief Executive 020 7010 8210 07766915245Geir Lolleng, Chief Operating Officer 020 7010 8210 +46 708 556 727Binns & Co PR Ltd Peter Binns 020 7153 1477 07768 392582Hannah Sloane 020 7153 1480 07855 084713 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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