Next Fifteen Communications Plc
Next Fifteen Communications Group plc
30 November 2006
Next Fifteen Communications Group plc increases stake in top UK consumer PR
agency Lexis
Next Fifteen Communications Group plc ("Next Fifteen" or the "Company") today
announced that it has further increased its stake in Lexis Public Relations
Limited ("Lexis"), one of the UK's leading consumer PR businesses, by acquiring
a further stake in Panther Communications Group Limited ("Panther"), the parent
company of Lexis.
The Company originally announced it had acquired a 25% stake in Panther in
August 2005 and on 6 April 2006 it announced it had acquired a further 26%,
taking its interest to 51%. This latest purchase will take the Company's stake
to 76% by acquiring a further 22,814 shares in Panther. The total consideration
for this 25% stake is £2,070,599, of which £1,552,949 was paid in cash and the
balance satisfied by the issue of 756,468 ordinary shares of 2.5pence each in
the Company at a price of 68.43 pence each.
It is the intention of Next Fifteen to acquire the entire issued share capital
of Panther by 2010, and the sale and purchase agreement entered into in August
2005 provided for a number of purchases over time in order to achieve this.
Next Fifteen's majority equity stake in Lexis is evidence of the Company's
ambitions to develop its non-technology customer base while also increasing its
ability to offer sophisticated consumer PR services to its technology client
base. Lexis' current clients include Coca-Cola, Dove, 3 Mobile, Norwich Union
and the Barclays Premiership. Following a change in its accounting reference
period to coincide with Next Fifteen, in the seven-month period to 31 July 2006,
the business generated revenues of £3.75 million and EBITA of £660,000.
Application has been made to the London Stock Exchange for the new Ordinary
Shares to be admitted to AIM and it is expected that admission will take place
on 6 December 2006.
Enquiries:
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Next Fifteen Communications Group 020 8846 0770
Tim Dyson, Chief Executive 001 415 350 2801
David Dewhurst, Finance Director 07974 161 183
Merlin 020 7653 6620
Vanessa Maydon 07802 961 902
Rebecca Penney 07795 108 178
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