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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:2124U Advance Visual Communications PLC 16 November 2000 ADVANCE VISUAL COMMUNICATIONS COMMENCES TRADING ON ALTERNATIVE INVESTMENT MARKET Advance Visual Communications Plc ("AVC" or the "Company"), a provider of internet professional services (IPS) and digital media solutions, today announces its Ordinary shares have been admitted to trading on the Alternative Investment Market (AIM) with effect from 8am this morning. * AVC successfully raised #5 million, following a placing and shareholder offer of 50 million new shares at 10p per Ordinary share, giving AVC an initial market capitalisation of #15 million. *The proceeds will be used to develop a wider presence in the rapidly growing European IPS marketplace through acquisitions of existing businesses in key European cities. * The European IPS industry is forecast by IDC to grow by over 46 per cent per annum from 1999 over the next four years reaching a level of $28.6 billion in 2004. Currently the European IPS market is fragmented and AVC directors believe that it will consolidate in line with the evolution of the North American IPS market with the emergence of several larger players. * AVC's target clients are mid to large corporations avoiding SMEs and e-commerce start-ups due to their limited budgets. The existing client base includes Tag Heuer, Reuters, Union Bancaire Prive, Espirito Santo, Banque Syz & Co, UB Mobile, Hallmark, Adidas, Marshalls, the DTI, Royal & Sun Alliance and the European Patent Office. * Arthur Andersen acted as Nominated Adviser and Peel Hunt as Nominated Broker. For further information, contact: Bell Pottinger Financial David Rydell/Billy Clegg/Tania Mallett 020 7353 9203 Advance Visual Communications plc Massoud Amiri, Chief Executive 01274 854 900 Arthur Andersen Chris Hawkley/Nick Maslen 0121 233 2101 Peel Hunt plc Adam Hart 0207 418 8900 Summary Information AVC aims to create a leading pan-European Internet Professional Services (IPS) company through a combination of acquisition and organic growth. IPS companies provide web-based solutions to clients in their transition to e-commerce, integration of existing IT systems and the enhancement of sales and marketing activities through the use of the internet. A new and experienced management team has been recruited since November 1999 and since then has transformed organically and by acquisition from a UK based multimedia agency with 28 employees to a European IPS group with over 90 employees with facilities in the UK, Switzerland and France. AVC has a carefully devised strategy to expand its sales and consultancy operations throughout Western Europe with the objective of becoming a leading player in the European IPS sector. The directors believe that this will be achieved due to the Group's distinctive and highly scaleable operational structure which is designed to offer operational efficiencies and higher margins through centralised production facilities and localised sales offices.
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