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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Advance Visual | LSE:ACV | London | Ordinary Share | GB0002565355 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.16 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0721D Advance Visual Communications PLC 3 May 2001 This announcement replaces RNS no 0620D released at 10:54, 3 May 2001 The text contained track changes. There are no material changes to the announcement. 3 May 2001 Advance Visual Communications plc acquires Click Online in Berlin Highlights * Advance Visual Communications plc continues European expansion through acquisition of Berlin-based Internet consultancy, Click Online * Click Online's unaudited accounts for year ended 31st December 2000 indicate turnover of GBP 275,000 and profits of GBP 33,000. * Acquisition to be initially satisfied by the issue of six million new Ordinary shares of Advance. At Advance's Wednesday's closing price of 3.5p per share, it represents a multiple of 0.76 of Click Online's trailing 12 months sales. * Additional issue of two Million Ordinary shares of Advance to be made if Click Online exceeds sales targets of GBP 600,000 within the first 9 months post acquisition. * Acquisition provides entry into fast growing German market. Advance Visual Communications now present in Europe's three largest technology services markets: UK, France and Germany as well as Switzerland * Synergies support Group's pioneering centralised production structure * Advance Visual Communications plc now operates from four sales locations and two production centres offering Europe wide reach. Advance Visual Communications plc, ("Advance" or the "Company"), the AIM listed Internet Professional Services (IPS) provider, announces today that it has purchased Berlin based Click Online in an all paper transaction. Click Online has been acquired for GBP 210,000 to be satisfied by way of issue of 6,000,000 new Ordinary shares at Wednesday's closing price of 3.5 p per new share. In addition, there is a deferred consideration of 2,000,000 new Ordinary shares if sales exceed GBP 600,000 within the first 9 months post acquisition. If the target is met and based on Wednesday's closing price of 3.5 p for Advance's shares, the total acquisition consideration of eight million shares would translate into a maximum multiple of 0.47 times of the required nine month's sales. Advance's distinctive operational structure is designed to offer operational efficiencies and higher margins through centralised production facilities and localised sales offices. This highly scaleable operational structure fits with Click Online's model of outsourcing production. Integration will be efficient and redundancy free as previously outsourced production work will now be handled by Advance's strong Internet and wireless production centre in Sophia Antipolis, South of France. Massoud Amiri, Chief Executive, Advance Visual Communications, said: "We are pleased to welcome the Click Online team to Advance. They open the lucrative German market to us. Their focus on internet consulting and sales is a perfect compliment with our strong centralised production capability. Click Online bring us new blue chip clients such as Alba and Scout 24 while enabling us to accelerate the growth of our customer base. We are also delighted to be in Berlin, one of Europe's fastest growing cities which is becoming the centre of German government and business. This is another step forward in the implementation of the pan European Buy and Build strategy which we presented to the market at floatation.." - ends - About Click Online www.click-online.de Click Online is an Internet Professional Services business founded in 1998. It has six multi-lingual consultants and account managers with a strong blue chip client base which includes Alba AG and Scout 24. Click Online also brings some impressive wireless technology skills, an area which is seeing increasing demand in Germany. Unaudited accounts for the fiscal year ended 31st December 2000 show the company made a profit of GBP 33,000 based on a turnover of GBP 275,000. About Advance www.advancevisual.com Advance Visual Communications plc was admitted to the Alternative Investment Market (AIM) part of the London Stock Exchange in November 2000 and trades under the stock symbol ACV. It aims to create a leading pan-European Internet Professional Services (IPS) company through a combination of acquisition and organic growth and currently has operations across the UK, Switzerland and France. Advance specialises in three core areas; eProcesses, eServices and eMarketing, through which it helps companies harness the Internet to enhance margins and bring their businesses closer to their customers, suppliers and channels. Advance also provides a complete range of Multimedia and Digital Video solutions. For further information: Massoud Amiri, Chief Executive Advance Visual Communications plc 020 7830 9741 David Rydell/Billy Clegg Bell Pottinger Financial 020 7353 9203
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