17th May 2005 09:05
Chime Communications PLC17 May 2005 CHIME COMMUNICATIONS PLC ('CHIME') Payment of deferred consideration in connection with the acquisition of The Smart Company.Net Limited and also deferred consideration in connection with the acquisition of the business activities of TTA Public Relations Limited Chime announces that as a result of the achievement of the profit targets setunder the original agreement to acquire The Smart Company.Net Limited, deferredconsideration has become payable. Chime is therefore issuing 183,026 newordinary shares of 5 pence each ('new ordinary shares') and £83,461 nominalamount of Chime loan notes. Under the terms of the acquisition agreement dated20 December 2001 there are further deferred payments to be made up to a maximumof £2.7 million subject to the achievement of profit targets. The next paymentwill not be due until April 2006. Chime also announces that as a result of the achievement of the profit targetset out under the original agreement to acquire the business activities of TTAPublic Relations Limited, previously announced on 12 December 2003, deferredconsideration has become payable. Chime is therefore issuing 834,061 newordinary shares of 5 pence each. Application has been made to the UK Listing Authority for a total of 1,017,087new ordinary shares to be admitted to the Official List and to the London StockExchange for the new ordinary shares to be admitted to trading. The newordinary shares rank pari passu in all respects with the existing issuedordinary shares of Chime. Dealings in the new ordinary shares are expected tocommence on 18 May 2005. For further information please contact: Lord BellChairman, Chime Communications plc 020 7861 8515 Robin TozerBell Pottinger Corporate and Financial 020 7861 3891 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
CHW.L