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Top Ten Holdings PLC (TTH)

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Monday 06 February, 2006

Top Ten Holdings PLC


Top Ten Holdings PLC
06 February 2006


Acquisition of Bravo Bingo Clubs

Top Ten Holdings plc ('Top Ten' or the 'Group'), the third largest bingo
operator in the UK has agreed to acquire three freehold bingo clubs in Worksop,
Leicester and Blackwood (all together termed 'Bravo') for a consideration of
£1.85 million.


•   Consideration to be funded from existing resources

•   The acquisition of Bravo dovetails with Apollo acquisition announced
    in January 2006

•   Top Ten intends to:

o   Rationalise its operations to a single club in Worksop

o   Realise the freehold value of one of the properties

•   Bravo clubs have a good geographical fit with other clubs in the Top
    Ten Group with no overlap

•   Asset base of Top Ten will be further strengthened by having a total
    of 44 Clubs, of which 26 are wholly owned freehold properties

•   Top Ten has additional undrawn bank facilities and strong cashflow
    generation leaving it well placed to further consolidate its position in a
    fragmented market

                                                                 6 February 2006

Commenting on the acquisition Sir Aubrey Brocklebank, Chairman, said,

' We came to the AIM market with eleven clubs in 2002 with an ambition to grow
through selected acquisitions in a fragmented market. We have been able to do
this very successfully acquiring twenty clubs in the last year alone, and have
integrated these clubs into the Group, optimised their performance and taken
advantage of the increasing scale of our operations. We believe there is still
much that we can do and that we are very well placed to achieve our ambitions .'

For Further Information:

Top Ten Holdings plc                                 01727 850793
Sir Aubrey Brocklebank, Chairman
Graham Kerr, Chief Executive

College Hill                                         020 7457 2020
Alex Walters
Matthew Smallwood

The Board of Top Ten Holdings plc ('Top Ten' or the 'Company') announces that
its wholly owned subsidiary, Top Ten Bingo Limited ('Top Ten Bingo') has entered
into an agreement to acquire three Bingo Clubs in Worksop, Leicester and
Blackwood, Gwent for a total cash consideration of £1,850,000.

Top Ten Bingo will acquire Bravo Bingo (UK) Limited ('Bravo Bingo') which owns
and operates the Worksop club.  It will also acquire the businesses and certain
of the assets of the clubs at Leicester and Blackwood (the 'Bravo Clubs').  Top
Ten Bingo will acquire the freeholds for each of these properties.

The acquisition of Bravo dovetails with the acquisition of Apollo Bingo Limited
announced in January 2006 whereby Top Ten obtained an agreement to lease a
proposed new bingo club in Worksop. The Bravo acquisition will therefore allow
Top Ten in the future to rationalise its Worksop operations into a single club,
realising the freehold value of the existing property.

For the year to 31 March 2005, the club at Worksop generated earnings before
interest, tax, depreciation and amortisation ('EBITDA') of £158,000, on turnover
of £478,000. The club at Leicester generated EBITDA of £92,000, on turnover of
£319,000 for the year to 31 July 2005. In relation to the club at Blackwood,
trading results are only available for the 6 1/2 months to 31 October 2005, and
for this period the club generated EBITDA of £87,000, on turnover of £282,000.
The estimated net assets of Bravo Bingo as at 30 September 2005 was £185,000 and
the estimated net assets to be acquired in relation to the Bravo Clubs as at 31
October 2005 was £630,000.

The consideration will be met from the Company's own resources and through
utilising part of the undrawn amount from the £42.5 million facility which was
entered into with National Westminster Bank Plc on 22 December 2005 and which
was announced at the time of the acquisition of Apollo Bingo Limited.

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

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