3rd Oct 2006 07:00
Tarsus Group PLC03 October 2006 3 October 2006 Tarsus Group plc ACQUISITION Tarsus Group plc ('Tarsus' or the 'Group'), the international media group withinterests in exhibitions, conferences, publishing and online media is pleased toannounce the acquisition of 97.15% of Proseg SARL ('Proseg') from the Constantfamily and associates. The consideration was €3.8 million plus approximately€0.9 million for Proseg's net assets, payable in cash. It is anticipated thatthe balance of 2.85% of the shares will be acquired in due course. Proseg SARL owns the Proseg exhibition, an annual exhibition which takes placein Paris for the facilities management industry. The exhibition is now 13 yearsold and the 2006 event, which opens today, will cover over 7,000 net squaremeters. The next edition will take place in June 2007 and will be merged withthe Group's competitive SISEG exhibition which was launched in June 2006. Proseg's unaudited turnover and loss before tax for the year ended 31 December2005 were approximately €2.2 million and €0.1 million respectively. Thedirectors of Tarsus anticipate that the acquisition will be earnings enhancingin its first full financial year. Douglas Emslie, Group Managing Director of Tarsus, said "This acquisition isanother step forward in our strategy to increase the scale and broaden thesector coverage of our French business. Proseg will be the second largestexhibition in our French portfolio and the seventh largest in the Group. Theacquisition will also accelerate our growth in this recovering economy". For further information please contact: Tarsus Group plc: Douglas Emslie Group Managing Director: Tel. 020 8846 2700 Media: Matthew Moth Madano Partnership Tel. 020 7593 4000 Investor Relations Neville Harris IRFocus Tel. 020 7593 4215 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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