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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Journey Grp | LSE:WMK | London | Ordinary Share | GB0009422097 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.13 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:3997R Watermark Group PLC 28 October 2003 For immediate release: 28 October 2003 WATERMARK GROUP PLC FURTHER DEVELOPS TOTAL CABIN MANAGEMENT SERVICE Watermark Group plc ("Watermark"), the provider of marketing support services to the international travel industry, today announces two developments in its stated intention to provide a total cabin management service to the airline industry. Aero TV Watermark has today entered into Heads of Terms with DCN Limited, an unlisted public Australian company, to form a joint company ("the Company") for the marketing of its digital content distribution system ("the System") to the travel industry for on-board entertainment under the Aero TV brand. Under this agreement, Watermark will have the worldwide marketing rights to the System (with the exception of Australian based airlines) with Watermark receiving 10% of the net sales revenues arising. It is proposed that Watermark will make an initial nominal subscription for one sixth of the shares in the Company. It is then intended that there is to be an application to a public market, following which Watermark's interest will be no less than 10%. An additional 5% will be received by Watermark from DCN, upon the achievement of certain profitability and marketing targets. Apart from the initial nominal subscription, there will be no further consideration payable by Watermark in these arrangements. UIS Watermark also announces an agreement signed today for the acquisition of Update International Services Limited ("UIS"), a company providing a variety of inflight products and logistic services to the airline industry. The acquisition, effective from 1 September 2003, will be for a nominal consideration of #1, and consolidates the logistics operations and the U.K. and European client base acquired with the acquisition of Update International Limited in Hong Kong, which was announced on 26 July 2002. Going forward, Watermark anticipates that the acquisition of UIS will constitute a positive contribution to the Watermark Group in terms of both turnover and profit before tax as well as being a source of introduction to further potential areas of development for the Group. UIS, in respect of the audited accounts for the year ending 31 March 2003, made a pre and post tax loss of #0.35 million on a turnover of #2.34 million, and had net liabilities of #0.77 million. For further information please contact: John Caulcutt, Chief Executive Rosie Brown Crispin Quail, Finance Director John West Watermark Group plc Tavistock Communications Tel: 01489 897800 Tel: 020 7920 3150 e-mail: info@watermarkplc.co.uk e-mail: rbrown@tavisock.co.uk Notes to Editors: DCN Limited was formerly known as Data-cast.Net Limited. This information is provided by RNS The company news service from the London Stock Exchange END ACQMPBATMMBTBIJ
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