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Mission Marketing (317)

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Monday 04 August, 2014

Mission Marketing

Acquisition of Proof Communication Limited

RNS Number : 1252O
The Mission Marketing Group PLC
04 August 2014
 



 

 

The Mission Marketing Group plc

 

Acquisition of Proof Communication Limited

 

 

The Mission Marketing Group plc ('the missiontm', AIM: TMMG), the national marketing communications and advertising group, is pleased to announce the acquisition ("the Acquisition") of Proof Communication Limited ("Proof") by its technology specialist Agency, April-Six Limited ("April-Six").

 

Proof is an independent science, engineering and technology PR Agency with an office in Central London offering specialist communication services to prestigious Clients including national laboratories, international science facilities, global technology businesses, multinational engineering companies and universities. Proof's expertise in public relations, and its focus on science and technology, is expected to complement April-Six's existing global technology marketing specialism, and fits well with the strategy of the missiontm and its portfolio of specialist Agencies. April-Six has offices in London and San Francisco with a wide portfolio of blue-chip technology Clients.

 

Proof has a profitable and cash generative track record, and the Board of the missiontm expects the Acquisition to make a positive contribution in both the current and next financial year.

 

The Acquisition is not a substantial acquisition as defined by the AIM Rules for Companies. The consideration for the Acquisition comprises an upfront element payable on completion, with a further deferred contingent payment in 2016 subject to the performance of the business. The vendor management team can elect to receive a proportion of consideration due in new or existing ordinary shares of the missiontm ("Ordinary Shares"). Cash elements of the consideration will be financed through the missiontm's cash flows and existing bank facilities. the missiontm will issue 115,347 new Ordinary Shares to satisfy a proportion of the initial consideration.

 

Executive Chairman of the missiontm, David Morgan, said: "We are delighted to welcome another high quality business into the missiontm family. Proof is an excellent complement to our existing technology offering and we look forward to developing our capabilities further. "

 

Chief Executive of April-Six, Fiona Shepherd, said: "We have already developed April-Six into a leading global technology Agency and we are excited about the opportunity to offer Proof's outstanding PR capabilities to our Clients. It is our ambition that by combining our sector specialisms together, we will develop a genuinely new and unique offering in the science and technology space."

 

Richard Moss, one of the co-founders of Proof, added: "Over the last decade, we have grown Proof into one of the most respected science, engineering and technology communication companies in Europe; helping Clients clearly communicate complex subjects and issues to the people they need to influence. By combining Proof's PR services with April-Six's exceptional capabilities in technology marketing, we can meet the growing demand from technical organisations for more innovative and integrated communication programmes. This acquisition creates a significant opportunity for Proof, April Six, and the UK's science, engineering and technology community."

 

Application has been made for these 115,347 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 8 August 2014. Subsequent to the issue of these new Ordinary Shares, the total issued share capital of the Company will be 77,106,287 Ordinary Shares. The Company holds no Ordinary Shares in treasury. Accordingly, the total number of voting rights in the Company will be 77,106,287.

 

 

 

Enquiries:                                                                                                

  David Morgan, Executive Chairman

  Peter Fitzwilliam, Finance Director

  The Mission Marketing Group plc

 

 

020 34632099

 

Geoff Nash/Henrik Persson(Corporate Finance)

Victoria Bates (Corporate Broking)


finnCap Limited

020 7220 0500

 

the missiontm is a national marketing communications and advertising group with 18 offices across the UK and offices in San Francisco and Singapore. The Group specialises in providing national and international Clients with award winning marketing, advertising and business communications. Group members include Addiction, April-Six, Balloon Dog, Big Communications, Bray Leino, Proof, RLA, Robson Brown, Solaris, Story, ThinkBDW and Yucca. the missiontm employs over 800 staff and is listed on AIM (TMMG).

 

www.themission.co.uk

 


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