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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 |
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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