Aukett Swanke Group PLC Final Results -4-

This acquisition has provided revenue enhancing opportunities in a wider market place and significantly improved the Group's market position in London and Moscow, as well as affording access to the Turkish market. The goodwill acquired on the acquisition represents the knowledge and experience of the assembled workforce in addition to expected integration savings and economies of scale. The goodwill is not considered deductible for income tax purposes.

The below table summarises the consideration paid for Swanke Hayden Connell Europe Limited, the fair value of assets acquired and liabilities assumed at the acquisition date.

 
 Consideration at 18 December 2013           GBP'000 
------------------------------------------  -------- 
 
 Cash                                            209 
 Equity instruments (19,594,959 ordinary 
  shares)                                      1,372 
------------------------------------------  -------- 
 Total consideration transferred               1,581 
 
 Indemnification asset                         (110) 
 
 Total consideration                           1,471 
------------------------------------------  -------- 
 
 Recognised amounts of identifiable 
  assets acquired and liabilities assumed 
 
 Cash and cash equivalents                       152 
 Property, Plant and Equipment                    69 
 Tradename (included in other intangible 
  assets)                                        415 
 Customer relationships (included in 
  other intangible assets)                       249 
 Order book (included in other intangible 
  assets)                                         40 
 Amounts recoverable on contracts                470 
 Trade and other receivables                   1,863 
 Deferred tax assets                             172 
 Trade and other payables                    (2,017) 
 Provision for liabilities                     (292) 
 Contingent liabilities                        (110) 
 Deferred tax liabilities                      (145) 
------------------------------------------  -------- 
 Total identifiable net assets                   866 
------------------------------------------  -------- 
 
 Goodwill                                        605 
 
 Total                                         1,471 
------------------------------------------  -------- 
 
   7          Status of final audited results 

This announcement of final audited results was approved by the Board of Directors on 28 January 2015.

The financial information presented in this announcement has been extracted from the Group's audited statutory accounts for the year ended 30 September 2014 which will be delivered to the Registrar of Companies following the Company's Annual General Meeting.

The auditor's report on these accounts was unqualified, did not include references to any matters to which the auditors drew attention by way of emphasis without qualifying their report, and did not contain a statement under section 498 of the Companies Act 2006.

Statutory accounts for the year ended 30 September 2013 have been delivered to the registrar of companies and the auditors' report on these accounts was unqualified, did not include references to any matters to which the auditors drew attention by way of emphasis without qualifying their report, and did not contain a statement under section 498 of the Companies Act 2006.

The financial information presented in this announcement of final audited results does not constitute the Group's statutory accounts for the year ended 30 September 2014.

   8          Annual General Meeting 

The Annual General Meeting of the Company will be held at 10:00am on Thursday 26 March 2015 at 25 Christopher Street, London, EC2A 2BS.

   9          Annual report and accounts 

Copies of the 2014 audited accounts will be available today on the Company's website (www.aukettswanke.com) for the purposes of AIM rule 26 and will be posted to shareholders in due course.

This information is provided by RNS

The company news service from the London Stock Exchange

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