Euromoney - Acquisition

EUROMONEY INSTITUTIONAL INVESTOR PLC

RNS Announcement

April 19, 2013

Not for release before 07.00 hours

London time on April 19, 2013

Euromoney Institutional Investor PLC has acquired a majority stake in

the Centre for Investor Education, the leading provider of investor forums

for the Australian asset management sector

Euromoney Institutional Investor PLC ("Euromoney"), the international online information and events group, is extending its global leadership in the business of events for institutional investors and asset managers with the acquisition of a 75% stake in the Centre for Investor Education ("CIE").

Based in Melbourne, Australia, CIE (www.cie.com.au) was founded in 1997 and is Australia's leading provider of investment forums for senior executives of superannuation funds and global asset management firms. Principal events include the Chief Investment Officers Symposium and the Major Market Players Symposium, both held annually in Australia, as well as the International Investing Symposium which was held in Tokyo earlier this month. CIE was acquired in 2010 from its founder, Melda Donnelly, by Erling Sorensen and Jamie Nemtsas who have expanded its portfolio of events and will remain shareholders in CIE until December 2015.

The acquisition is expected to be earnings enhancing for Euromoney in financial year 2013. Euromoney has paid an initial A$14.4 million (£9.9 million) cash consideration for a 75% interest in CIE, to be adjusted up or down dependent on CIE's results for the year to December 2013. Euromoney will acquire the remaining 25% of CIE's equity in two instalments based on CIE's profits for the years to December 2014 and 2015. The acquisition will be funded from Euromoney's existing committed borrowing facility. CIE recorded an unaudited pre-tax profit of A$1.5million (£1.0 million) on revenues of A$4.3 million (£2.9 million) for the year to December 2012.

Under its Institutional Investor brand, Euromoney is a leading international provider of forums and membership organisations for institutional investors across the US, Europe and Asia. The acquisition of CIE extends its reach into Australia, home to US$1.6 trillion of superannuation funds, the fourth largest pool of pension assets globally and the world's fastest growing pool of capital (18% CAGR for the past ten years) after Brazil. By combining CIE with the expertise and relationships of Institutional Investor's forums and memberships, Euromoney will consolidate its leading position in the asset management events sector.

"We are delighted to acquire CIE," said Richard Ensor, Chairman of Euromoney. "Euromoney expects to benefit from the rapid growth of Australia's asset management industry. This acquisition of the high-quality CIE business gives us the opportunity to consolidate further our position in this premium segment of the events market. We look forward to working with Erling Sorensen and Jamie Nemtsas to develop CIE further."

Erling Sorensen, Managing Director of CIE, said: "Having successfully built on the exceptional legacy of Melda Donnelly, Jamie Nemtsas and I believe Euromoney is now ideally positioned to elevate CIE to the next level, by contributing its experience and wealth of relationships with global institutional investors and asset managers. We relish the opportunity of working with Euromoney to enhance CIE's leadership position in Australia."

Ends

For further information, please contact:

Euromoney Institutional Investor PLC

Richard Ensor, Chairman: +44 20 7779 8845; [email protected] 

Christopher Fordham, Managing Director: +44 20 7779 8998; [email protected] 

Colin Jones, Finance Director: +44 20 7779 8998; [email protected]

FTI Consulting

Charles Palmer: +44 20 7269 7180; [email protected]

NOTE TO EDITORS

Euromoney Institutional Investor PLC (www.euromoneyplc.com) is listed on the London Stock Exchange and is a member of the FTSE-250 share index. It is a leading international business-to-business media group focused primarily on the international finance, metals and commodities sectors. It publishes more than 70 titles in both print and on-line format including Euromoney, Institutional Investor and Metal Bulletin, and is a leading provider of electronic research and data under the BCA Research, Ned Davis Research and ISI Emerging Markets brands. It also runs an extensive portfolio of conferences, seminars and training courses for financial markets. The group's main offices are in London, New York, Montreal and Hong Kong and more than a third of its revenues are derived from emerging markets.