Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

TG21 Plc (TGP)

  Print      Mail a friend       Annual reports

Wednesday 15 April, 2009

TG21 Plc

Acquisition of remaining shar

RNS Number : 5571Q
TG21 Plc
15 April 2009
 




15 April 2009


TG21 plc ('TG21', 'the company' or 'the group')


Acquisition of remaining 25% of the ordinary shares in 21st Century Crime Prevention Services Ltd ('21st Century')


TG21, the vehicle installation service provider supplying public transport CCTV and other monitoring systems, today announces that it has acquired the remaining 25% of the ordinary shares in 21st Century Crime Prevention Services Ltd ('21st Century') and that as a consequence 21st Century is now a wholly owned subsidiary of the group.

21st Century supplies on board CCTV and other monitoring systems to the public transport market and for the year ended 31 December 2008 made a profit before tax of £1.6m on turnover of £7.7m.

This acquisition is pursuant to the option agreement dated 18 December 2004 to acquire the entire share capital of 21st Century.  However, the purchase consideration for this final 25% of the equity of 21st Century has been amended by agreement with the vendor.  

The original option specified a cash consideration of £2,107,825 to be paid for the remaining shares immediately that the option was taken up. The revised consideration under the renegotiated terms comprises a mixture of cash, deferred cash and new shares in TG21 the details of which are as follows:

i)  £553,912 in cash paid on completion

ii)  £500,000 in cash to be paid by 4 January 2010

iii) 10,539,125 new TG21 ordinary shares to be issued to the vendor as fully paid up at 10p per share and with a nominal value of £1,053,913

The vendor has also waived any pro-rata entitlement to dividend arising in 21st Century during the current year. The 2008 minority interest dividend was £300,000.

The shares issued to the vendor as part of the total consideration ((iii) above) are subject to a 12 month lock-in agreement.


Chairman of TG21, Peter Ward commented:

'I am delighted that we have been able to complete the purchase of the remaining share capital in 21st Century as this subsidiary is making an increasing contribution to the group's operations and results.  

'I am also pleased to report that, given the current economic climate, we have successfully renegotiated the purchase consideration to include shares in TG21. Based on TG21's closing mid share price on 14 April 2009 of 4.63p, the revised consideration has yielded a saving in excess of £0.5m compared to the original cash consideration and a further £0.5m saving has been made in cash outflow. The purchase also means, of course, that we will retain within the group the future share of profits in 21st Century which previously would have been distributed to the minority interest by way of dividend.  It is particularly pleasing and notable that the vendor has demonstrated his confidence in the group with an effective target price of 10p per TG21 share required for him to realise the total value of the sale proceeds which he originally anticipated.  

'With full ownership comes a further concentration of the business on innovative CCTV and monitoring products for public transport companies, including the recent development and launch of 'EcoManager' which is aimed at saving fuel and improving safety for bus operators by monitoring driver behaviour.'

For Further Information:


TG21 plc

Wilson Jennings, Finance Director

020 8710 4016




Hogarth Partnership Limited

Barnaby Fry

020 7357 9477


Vicky Watkins





Daniel Stewart & Co plc (Nomad)

Graham Webster

020 7776 6550



This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
ACQEZLFFKZBEBBK