4th Jan 2006 16:26
Farsight PLC04 January 2006 Farsight Grows Revenues Farsight plc announces that it has acquired existing contracts for the provisionof 24 hour CCTV monitoring. The contracts have between 12 and 36 months beforethey fall due for renewal and the revenue they bring to Farsight is £276,000 perannum. Farsight has paid £55,000 for the contracts, satisfied by the issue to thevendor of 5.5 million ordinary shares in Farsight at 1p per share. Additionalconsideration may become payable at the beginning of 2008 if the revenue earnedby Farsight from the parties to the contracts increases. Such additionalconsideration is not expected to exceed £50,000 and not less than 75% of suchconsideration would be satisfied again through the issue of ordinary shares inFarsight. Application will be made for the 5.5 million consideration shares to be admittedto AIM and it is expected that admission will take place on 11 January 2006. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ferro-alloy Re.