Porta acquires controlling stake in Thirteen

1 November 2013

PORTA COMMUNICATIONS PLC

(the "Group" or "Porta")

Porta acquires controlling stake in Thirteen Communications

Porta Communications plc, the AIM quoted international marketing and communications business announces that the Group has increased its holding in Thirteen Communications Limited ("Thirteen") from 30 per cent to 51 per cent by the payment of £350,000 which is to be satisfied by the issue of 2,692,300 ordinary shares of 10p each in the Group ("Ordinary Shares") at a price of 13p per share ("Consideration Shares").

Thirteen has been set up to offer a broad range of consultancy services rooted in consumer and corporate public relations. Thirteen has been formed by Andrew Baiden, previously Managing Director of the Red Consultancy which was acquired by Citigate/Incepta in 2001.

Commenting on the transaction, Group CEO, David Wright said: "In September this year, Porta took a 30 per cent holding in Thirteen in exchange for start-up capital, including office related costs, with an option to take a controlling interest over the next two years. However, after less than two months trading, the success of Thirteen in both new business brought in and in joint pitches with Newgate, prompted the decision to bring forward the Group's plan for ownership."

In addition, the Group has issued 422,950 Ordinary Shares at a price of 13p per share to an employee of the Group in lieu of part of his annual salary ("Employee Shares").

The Consideration Shares and Employee Shares will rank pari passu with all existing Ordinary Shares. Application will be made for admission of the Consideration Shares and Employee Shares to trading on AIM and dealings are expected to commence on 7 November 2013.

Following the issue of the Consideration Shares and Employee Shares, the Group's issued share capital will consist of 150,549,205 Ordinary Shares with one voting right per share. The Company does not hold any Ordinary Shares in Treasury.

The above figure of 150,549,205 may therefore be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

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