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RNS Number:9845T Real Affinity PLC 08 January 2004 8 January 2003 Real Affinity plc ("Real Affinity" or "the Company") REAL AFFINITY PLC TO ACQUIRE SPORTS MARKETING COMPANY AND RAISE #1.3 MILLION Real Affinity plc ("Real Affinity" or "the Company"), the AIM listed direct marketing and communication specialist, announces that it has conditionally agreed to acquire the entire issued share capital of Navigator: The Sports Business Limited ("Navigator"), a sports marketing company, for initial consideration of #590,000 to be satisfied by the issue of 27,699,530 new ordinary shares. In addition, deferred consideration of up to a maximum of #4.3 million, also to be satisfied by the issue of new ordinary shares, may be payable in two tranches in 2005 and 2006, depending on the performance of Navigator. Navigator, established in 2000, provides sports business solutions for major brand clients requiring defined business returns from sports marketing. Clients include Puma, Umbro, Sage, Fox Kids TV Europe and institutions ranging from the English Schools FA to the Institute of Thai Culture. It is currently tendering for projects in a variety of sports ranging from sailing and motorsport to golf and athletics. Revenues are derived from consultancy and project fees from use by brand clients of Navigator's own products and services and sponsorship commissions. Over the three years ended 31 March 2003 Navigator has increased turnover from #90,000 to #410,000 and further to #520,000 in the six months ended 30 September 2003. The Company also announces that it has undertaken a placing of 104,000,000 new ordinary shares at 1.25p per share to raise #1.3m (before expenses). These funds will be used to raise the profile of Navigator, for the appointment of additional staff, investment in IT equipment and to provide additional working capital for the enlarged Real Affinity group. The placing has been fully underwritten by Seymour Pierce. The acquisition of Navigator constitutes a reverse takeover under the AIM Rules and as such, requires the approval of Real Affinity's shareholders. The placing is also conditional on shareholder approval, and this is to be sought at an EGM of the Company to be held on 2 February 2004. An admission document containing full details of the placing and acquisition will today be sent to shareholders. Real Affinity, which floated on AIM in March 2001, has been seeking to build an entrepreneurial group of companies that can advise clients on how best to build successful customer relationships and to add value to their brands. The Board believes Navigator, which has offices in London and Leeds, will be an excellent strategic fit with its existing operations, Ladders, a full service agency, and Ecomextra, which provides advice and creative web-based solutions for its clients. Mark Richardson, Chief Executive of Real Affinity, said: "We have invested a lot of time in identifying an acquisition which will bring real benefits to the Real Affinity group. Navigator is in an exciting and fast growing field of marketing which we believe offers real scope for growth. It has a strong reputation, an international network of affiliates, experienced personnel and some very innovative ideas in using sport as an integral brand and consumer marketing tool." ** E N D S ** Issued on behalf of Real Affinity plc by St Brides Media & Finance Ltd, 46 Bedford Row, London WC1R 4LR. Press Contacts: Mark Richardson CEO, Real Affinity plc Tel: 01274 421 606 Hugo de Salis/Cliff Feltham, St.Brides Media Tel: 020 7242 4477 Louise Carpenter/Jonathan Wright, Seymour Pierce Limited Tel: 020 7107 8000 This information is provided by RNS The company news service from the London Stock Exchange END MSCBRMBTMMMMTLI
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