Acquisition
01 5월 2008 - 4:00PM
UK Regulatory
IMSG
Date: 1 May, 2008
On behalf of: International Marketing & Sales Group Limited ("IMSG" or "the
Group")
Embargoed: 0700 hrs
International Marketing & Sales Group Limited
Acquisition of Elektrik IIeti*im Organizasyon Hizmetleri Limited *irketi
International Marketing & Sales Group Limited (AIM: IMSG), the emerging markets
focused sales & marketing company, today announces its agreement to acquire the
entire issued share capital of Elektrik IIeti*im Organizasyon Hizmetleri Limited
*irketi ("Elektrik"), the Turkish events organising agency, with completion
anticipated on Friday 2 May 2008, for an initial consideration of US$3,315,000,
which is being paid 90% in cash and 10% in newly issued ordinary IMSG shares.
The balance of the purchase consideration will be paid by instalments based on
Elektrik's audited post-tax profits for the twelve months ended 31 December
2008, 2009, 2010 and 2011, respectively. The first tranche of the deferred
consideration will be a multiple of 6.5 of the average net profit after tax of
Elektrik for the financial years ending 2008 and 2009 x 20%. The final tranche
of the deferred consideration will be a multiple of 6.5 of the average net
profit after tax of Elektrik for the financial years ending 2010 and 2011 x 20%.
The deferred consideration is also being paid 90% in cash and 10% in newly
issued ordinary shares of IMSG. The total purchase consideration will be capped
at US$25,000,000. The share elements of the consideration will be issued at the
30 day average mid-market price preceding the date of issue. The Group financed
the cash element of this acquisition through its existing bank facilities.
Elektrik was established in 2006. Its core businesses are event
planning/organising, above and below the line marketing communication services
and advertisement agency services. Amongst its clients are some prestigious
Turkish banks and multinational companies such as Yapi Kredi Bank, Tekstilbank,
Shell, Aviva Insurance Company and Eli Lilly. Elektrik has shown impressive
growth during the past year. Elektrik has 20 permanent employees and its last
audited accounts, for the year ended 31 December 2007, show turnover of
US$10,288,008, a profit after tax of US$247,887 and gross assets of
US$1,549,268. Elektrik is one of the fastest growing Marketing Communication
Services Company in the Turkish market.
The acquisition will provide IMSG with an expanded presence in the fast-growing
Turkish market and the agency will be integrated under IMSG's umbrella of event
businesses branded One2Remember.
Turkey has an attractive business environment and the general outlook for the
future is encouraging. In particular, the advertisement market is expected to
grow rapidly.
Muammer Pamir Kiraner, Aysen G�rgan and Onur Ye*eno*lu will continue to manage
the day-to-day running of the business following the transaction, and will
report to IMSG Executive Chairman, Gregory Thain. Following the completion the
company will be rebranded to One2Remember Elektrik.
IMSG's Acquisitions Director, Lau Geckler, led the transaction and was advised
by Bevan Brittan LLP London, together with its Turkish advisers. Elektrik was
advised by Verdi & Yazici Law Firm, Istanbul.
Onur Ye*eno*lu Managing Director of Elektrik, commented: "We are very excited
about being a part of IMSG. Elektrik is already an important player in the Event
Management Business in Turkey and we believe that with the help of this
alliance, acceleration of our growth will increase significantly.
Commenting on the latest acquisition by the Group, Gregory Thain, Executive
Chairman of IMSG, said: "IMSG is continuing to expand its footprint and to
develop its services in each country so we are able to offer a complete
through-the-line service to our clients. With this acquisition in Turkey, IMSG
will have an Events business alongside its Marketing, PR, Advertising, Branding
and Internet businesses. Elektrik has built up an impressive client base since
it was established and we are delighted to add it to our portfolio of businesses
in Turkey so we can offer expertise in Event Management to our existing local
and international clients as well as offering Elektrik's own clients a wider
selection of marketing services.
- ends -
Enquiries to:
Lau Geckler
International Marketing & Sales Group Limited Tel: + 7 495 796 6141
www.imsg.co.uk
Andrew Best / Emily Bruning
Shared Value Limited Tel: +44 (0) 20 7321 5022
www.sharedvalue.net Tel: +44 (0) 7798 576 378
Onur Ye*eno*lu
Elektrik IIeti*im Organizasyon Hizmetleri Limited *irketi
www. elektrikistanbul.com Tel: +90 212 2657616
Mark Williams / Andrew Chubb
Canaccord Adams Limited Tel: +44 (0)20 7050 6500
Notes to Editors
-- IMSG was founded in 1996 by its Chairman and Chief Executive Officer,
Gregory Thain.
-- The Group was admitted to trading on AIM on 6 December 2005. The Group's
NOMAD and broker is Canaccord Adams Limited.
-- Since 2002, the EBITDA of the Group has grown at a rate in excess of
100% per annum. IMSG has been profitable since 2000.
-- The Group's clients include multinational and first tier local companies
operating in FMCG, telecommunications, retail trade, banking and
finance, automotive, consumer electronics and pharmaceutical industries.
-- IMSG currently has 30 offices in emerging markets. These offices are
situated in: Moscow, Saint Petersburg, Yekaterinburg, Kazan, Nizhniy
Novgorod, Novosibirsk, Rostov-on-Don, Samara, Krasnodar (Russia), Kiev
(Ukraine), Almaty, Astana (Kazakhstan), Dushanbe (Tajikistan), Istanbul
(Turkey), New Delhi, Mumbai, Bangalore, Chenai, Kolcata, Hyderabad
(India), Budapest (Hungary), Athens (Greece), Bucharest (Romania) and
Sofia (Bulgaria.
-- In July, 2007, the Group was re-organised and a new Jersey-incorporated
parent company, International Marketing and Sales Group Limited, was put
in place. The shares of the new parent company were admitted to AIM on
19 July, 2007.
-- Further information about the Group is available on its website at:
http://www.imsg.co.uk
International Marketing & Sales (LSE:IMSG)
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International Marketing & Sales (LSE:IMSG)
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부터 6월(6) 2023 으로 6월(6) 2024
