Mission Marketing

Acquisition

RNS Number : 5126W
The Mission Marketing Group PLC
10 November 2014
 



 

The Mission Marketing Group plc

 

Acquisition of Raymond Loewy International Limited (trading as Speed Communications) and creation of standalone PR business

 

 

The Mission Marketing Group plc ('the missiontm', AIM: TMMG), the marketing communications and advertising group, is pleased to announce the acquisition ("the Acquisition") of Raymond Loewy International Limited ("Speed Communications") and its concurrent merger with Bray Leino PR (the specialist PR division of Bray Leino) to create a separate standalone PR business with revenues in excess of £5m, to be known as Speed Communications.

 

Speed Communications is a London-based PR Agency, employing 25 staff and working with a broad portfolio of prestigious Clients including The Economist, The FT, adidas, GSK and Lucozade Sport.

 

Bray Leino PR, employing 40 staff, has offices in Bristol and London and encompasses both consumer and lifestyle and B2B Clients including Virgin Media, Remington, Samsung, Wincanton and RAC.

 

The two PR businesses will merge to create a new PR offering with real critical mass in the industry, specialising in the Sport, Media, Technology, Consumer & Lifestyle, and Business & Corporate sectors. It will represent a separate Specialist Activity Agency in the missiontm portfolio, and report directly to the missiontm board.

 

Executive Chairman of the missiontm, David Morgan, said: "The acquisition of Speed Communications and the merger with Bray Leino PR gives us the opportunity to create an exciting new force in PR, offering a wide range of multi-channel and multi-sector capabilities. We are delighted to welcome Kate Bosomworth and her team into the missiontm family and have no doubt that by joining forces with Bray Leino PR the potential for growth is significant."

 

Kate Bosomworth, MD and a minority shareholder in Speed Communications prior to the Acquisition, added: "We've always been ambitious for growth and the opportunity to combine with Bray Leino PR to form not only a dynamic new PR business but a significantly strengthened leadership team, will allow us to drive accelerated growth in our areas of specialism.  Importantly, it will also deliver real synergies, enabling our Clients and teams to benefit from extended expertise and so deliver the big ambitions of all."

 

The Acquisition of Speed Communications is not a substantial acquisition as defined by the AIM Rules for Companies. As part of the initial consideration for the Acquisition, the missiontm will issue 600,000 new ordinary shares of 10 pence each ("Ordinary Shares"). Further consideration may be payable, subject to Speed Communications' future performance.

 

Application has been made for the 600,000 new Ordinary Shares, which will rank pari passu in all respects with the existing Ordinary Shares of the Company, to be admitted to trading on AIM, which is expected to be effective from 8.00 am on 13th November 2014. Subsequent to the issue of these new Ordinary Shares, the total issued share capital of the Company will be 83,398,195 Ordinary Shares. The Company holds no Ordinary Shares in treasury. Accordingly, after Admission, the total number of voting rights in the Company will be 83,398,195.

 

Enquiries:                                                                                                

  David Morgan, Executive Chairman

  Peter Fitzwilliam, Finance Director

  The Mission Marketing Group plc

 

 

020 3463 2099

 

Geoff Nash/Henrik Persson (Corporate Finance)

Victoria Bates (Corporate Broking)


  finnCap Limited

0207 220 0500

 

the missiontm is a network of entrepreneurial marketing communications Agencies employing over 850 people in the UK, Asia and San Francisco. The Group comprises a complementary mix of integrated generalists, specialists in specific marketing/communications activities and specialists in particular market sectors, all providing award-winning solutions to national and international Clients.

 

www.themission.co.uk

 


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