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AUS Amteus

7.75
0.00 (0.00%)
26 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Amteus LSE:AUS London Ordinary Share GB00B0NBKL01 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 7.75 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Commercial agreement with related party

29/05/2008 7:00am

UK Regulatory


    29 May 2008

                                  Amteus plc                                   

                          ("Amteus" or the "Company")                          

                    Commercial agreement with related party                    

Amteus announces that it has entered into a supply of services agreement (the
"Agreement") with The Media Buzz Limited ("Mediabuzz"), a provider of web-based
B2B direct marketing solutions. Under the agreement Amteus will sell the
Mediabuzz relationship and acquisition intelligent marketing services product
to small and medium enterprise ("SME") and corporate customers. Amteus is also
expected to combine its innovative instant messaging solution with the
Mediabuzz web-based direct marketing product to create an interactive and
intelligent marketing tool by which corporates can establish real-time
communication with their customers.

Amteus has been seeking to build sales of its secure messaging product to the
education sector and to the SME sector but so far sales volumes have been
slower than anticipated. The Company is now working with a potential reseller
partner to outsource and exploit sales of these products.

The Amteus sales force has recently begun selling the Mediabuzz relationship
marketing product on a trial basis. Early indications are that the trial has
proved successful, with average order values being approximately six times the
educational order size and four times the SME order size achieved for the
Amteus product alone. Sales volumes have also increased sharply in April, a
trend which has continued in the first three weeks of May.

Under the Agreement, Amteus will pay Mediabuzz the actual cost of the provision
of the services provided for each sale achieved. The net sales income after
deducting the actual cost of the services provided will be shared as to 60 per
cent. to Amteus and 40 per cent. to Mediabuzz. The Company will also pay
Mediabuzz for any additional services supplied.

Jeffrey Morris, the executive deputy chairman of Amteus, and his wife, who
together hold 44.84 per cent. of the issued share capital of Amteus, together
own the entire issued share capital of The Media Buzz Holdings Limited
("Mediabuzz Holdings"), the parent company of Mediabuzz. Michael Abrahams, the
chairman of Amteus, is also a director of Mediabuzz Holdings.

Under the AIM Rules, the Agreement is with a related party. The independent
directors of Amteus, having consulted with John East & Partners Limited
("JEP"), the Company's Nominated Adviser, consider the terms of the Agreement
to be fair and reasonable insofar as the Company's shareholders are concerned.
In advising the independent directors, JEP has taken into account the
commercial judgement of the independent directors.

Enquiries:

Amteus plc                                                     01756 770376
                                                                           
Michael Abrahams (Chairman)                                   020 7628 2200
                                                                           
John East & Partners Limited                                   07715 769078
                                                                           
John East/Simon Clements                                                   
                                                                           
Rawlings Financial PR Limited                                              
                                                                           
Catriona Valentine                                                         

John East & Partners Limited, which is authorised and regulated by the
Financial Services Authority, is acting exclusively for the Company and no one
else in connection with the matters set out herein and will not be responsible
to anyone other than the Company for providing the protections afforded to
customers of John East & Partners Limited or for providing advice in relation
to the matters set out herein or any transaction.



END



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