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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Medal Ent&Med | LSE:MME | London | Ordinary Share | GB0031004350 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 23.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:7601J Medal Entertainment & Media PLC 02 October 2006 2 October 2006 Medal Entertainment & Media plc ("MEM" or "the Company") Acquisition of UGD/Britannia Music MEM is pleased to announce that it has completed the acquisition of the business engaged in direct marketing of DVDs and CDs known as UGD/Britannia Music. MEM has acquired the entire issued share capitals of UGDJ Limited, UGD Jersey Limited and UGD UK Limited (together referred to herein as "UGD") for a total consideration of #1.5 million payable on 31 March 2008 ("the Acquisition"). The consideration will be paid in cash or, at the option of the vendors, will be satisfied by the allotment and issue of shares in the capital of MEM. The Acquisition represents a substantial transaction for the purposes of Rule 12 of the AIM Rules. UGD/Britannia Music, is engaged in the direct marketing of home entertainment to a total database of over 5.5 million names and over 570,000 e-mail addresses. UGD has an outsourced fulfilment facility in Jersey. In the year ended 31 December 2005, UGD achieved sales of approximately #25.7 million and a loss before tax of approximately #10.9 million as a result of one-off reorganisation costs. The net assets of UGD acquired by MEM stood at approximately #4.6 million at 31 December 2005, excluding UGD's intercompany debt which has not been acquired by MEM. In the 8 months ended 31 August 2006, UGD recorded unaudited sales of approximately #12.0 million. Commenting on the Acquisition, Steve Ayres, Chief Executive of MEM, said: "We are very pleased to have completed the acquisition of UGD, which includes some of the UK's best known brands in direct marketing of home entertainment products. This acquisition fits very well with MEM's existing direct marketing business, DDHE, and brings with it a large database of active customers". Enquiries: Mariana Spater, Finance Director, MEM Tel: 020 8900 5800 Richard Swindells, Nabarro Wells & Co. Limited Tel: 020 7710 7400 This information is provided by RNS The company news service from the London Stock Exchange END ACQILFFDIFLLIIR
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