Appointment of PR Adviser
Boomerang Plus PLC
07 November 2007
Date: 7th November 2007
On behalf of: Boomerang Plus plc ("Boomerang" or "the Group")
Immediate Release
Boomerang Plus plc
Appointment of PR Adviser
Boomerang Plus plc (AIM: BOOM.L), a profitable and vertically integrated,
multi-genre, independent television production group operating within the
Nations and Regions, announces that it has appointed Redleaf Communications as
its financial PR adviser with immediate effect.
Boomerang, founded in 1994, has extensive experience in producing content in a
variety of genres, including youth programming, music, entertainment, children's
programming, extreme sports and drama. The Group produces over 500 hours of
television and radio content per annum for S4C, Channel 4, BBC Wales, ITV Wales,
Sky and Discovery.
The Group floated on AIM on 5th November 2007, raising £3.0 million before
expenses.
For further information, please contact:
Boomerang Plus plc Via Redleaf Communications
Huw Davies, Chief Executive
Mark Fenwick, Finance Director
Redleaf Communications 020 7822 0200
Emma Kane/Sanna Lehtinen/Anna Dunkin
Notes to Editors:
• The Group, founded in 1994, has extensive experience in producing content
in a variety of genres, including youth programming, music, entertainment,
children's programming, extreme sports and drama
• The Group has good revenue visibility as a high proportion of its budgeted
revenue is contracted with broadcasters
• The market for independent television production companies in the Nations
and Regions has grown following quotas from the regulator Ofcom, which
require that, depending on the broadcaster, between 10 per cent. and 50 per
cent. of qualifying programming hours must be sourced from outside the M25
boundary
• Boomerang is ranked in the top five independent television production
companies, by revenue, in the Nations and Regions according to the
Broadcast Survey (Nations and Regions) 2007
• The Board's strategy is both to achieve strong organic growth by leveraging
the Group's existing customer base coupled with strategic acquisitions,
with a view to becoming a major supplier to UK networks looking to satisfy
their Nations and Regions quotas
• Boomerang is well placed to lead the consolidation of regional independent
production companies across the UK. Target companies which meet the
acquisition criteria will have a strong track record, which will assist the
Group to grow further, outside Wales
• The Placing proceeds are, inter alia, intended to provide finance for
acquisition opportunities, fund the general working capital requirements of
the Group and provide the capacity for additional incentives for employees
through share option schemes
This information is provided by RNS
The company news service from the London Stock Exchange