Result of AGM

RNS Number : 6050K

Boomerang Plus PLC

22 December 2008

 



Date:                        22 December 2008

On behalf of:            Boomerang Plus plc ("Boomerang" or "the Group")

For immediate release        

Boomerang Plus plc 

Result of Annual General Meeting

The Board of Boomerang Plus plc (AIM: BOOM.L), a profitable and vertically integrated, multi-genre, independent television production group operating within the Nations and Regions, is pleased to announce that at today's Annual General Meeting held at 12 p.m., all resolutions were duly passed.

- Ends -

For further information, please contact:

Boomerang Plus plc	Via Redleaf Communications
Huw Eurig Davies, Chief Executive
Mark Fenwick, Finance Director
Redleaf Communications	020 7566 6700
Sanna Sumner / Anna Dunkin	[e-mail]
Altium Capital Limited (Nomad)	020 7484 4040
Tim Richardson / Melanie Szalkiewicz

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  

 

END

 

 

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