23rd Oct 2007 07:01
The Mission Marketing Group PLC23 October 2007 The Mission Marketing Group plc Successful £5m placing to support continued rapid growth and expansion 23rd October 2007 The Mission Marketing Group plc ("TMMG" or "themission(R)"), the nationalmarketing communications and advertising group, announced today that it hasconditionally raised £5 million (gross) through the placing of 3,571,429 newordinary shares ("Placing Shares") at a Placing Price of 140 pence per share toinstitutional investors. The net proceeds of the placing will provide TMMG with the financial flexibilityto continue to pursue its successful strategy of combining above industryaverage organic growth with the creation of a national network of agenciesthrough selective acquisitions. All acquisition opportunities must be consistentwith themission's strategy of adding high quality, rapidly growing complementarybusinesses that extend its service offering and geographic footprint and areearnings enhancing in the first full year of ownership. During a busy 18 months since its IPO, themission(R) has successfully acquiredand integrated Bray Leino, April-Six and thinkBDW. The acquisition of Story UK,announced on 11 September, provides TMMG with additional direct and digitalexpertise and a strong presence in Scotland. themission(R) is now wellpositioned to provide its predominantly national and international clients withmore services in more locations. Based on the successful implementation of thisstrategy, the Board continues to actively pursue acquisition opportunities indynamic industry sectors. The placing is conditional on, inter alia, shareholder approval and notice of anextraordinary general meeting of the Company ("EGM") has been posted toshareholders today at which shareholders will consider and, if thought fit, passthe resolutions relating to the grant and renewal respectively of the Company'sauthorities in respect of the allotment of the Placing Shares and new ordinaryshares generally and the implementation of a SAYE scheme. The EGM will be held at 10:00 am on 15 November 2007 and it is anticipated thatthe Placing Shares will be admitted to trading on the AIM market on 16 November2007. Commenting on the successful placing Iain Ferguson, CEO, said: "The placing provides us with the financial flexibility to continue toaccelerate our expansion plans. Our focus on quality companies specialising indynamic sectors is driving strong organic growth. This, coupled with a provenability to make and rapidly integrate acquisitions, means we are well positionedto build a bigger platform from which to drive further growth. " Ends Enquiries: Iain Ferguson, Chief Executive 07860 361432Tim Alderson, Chief Financial Officer 07931 546672themission(R) 020 7959 3011 Charles Palmer/Nicola Biles 020 7831 3113Financial Dynamics Mark Percy 020 7107 8000Seymour Pierce Limited The Mission Marketing Group themission(R) is a national marketing communications and advertising group with10 offices across the UK. The Group specialises in providing national andinternational clients with award winning marketing, advertising and businesscommunications. Group members include April-Six, Bray Leino, Big Communications,Fuse Digital, thinkBDW and Story UK. themission(R) employs over 550 staffnationally and is listed on AIM (TMMG). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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