Adventis Group PLC
12 July 2006
95 Wigmore Street
London W1U 1HH
Direct Line 020 7034 4750
Fax 020 7034 4701
e-mail : cjphillpot@adventis.co.uk
Adventis Group plc ('Adventis' or 'the Company')
Acquisition of M2 Ltd and trading update
Adventis, the specialist multimedia and marketing agency, is pleased to announce
that on July 10th 2006 it acquired the business and goodwill of M2 Ltd. ('M2'),
the specialist property advertising agency, for an initial cash consideration of
£50,000. Additional deferred payment of up to £326,376, to be satisfied in
Adventis shares, will be made to Mark Bastin, founder and MD of M2, split
between the financial years of December 31st 2007 and December 31st 2008 on the
achievement of certain profit related targets.
Adventis, which floated on AIM in July 2004, has been rapidly expanding in its
specialist sectors of property, healthcare and financial services and this
acquisition will bolster its already significant property services group.
M2, which will trade through PMC, is headed by well known property marketing man
Mark Bastin. Mark has brought with him two key staff members, the team having
previously worked together.
Mark Bastin said, 'I am delighted to be moving to Adventis as it represents a
fantastic opportunity for the M2 team. It not only strengthens our offer in
terms of resources and manpower, but also gives us a lot of opportunity for
cross fertilisation within the group. From our point of view it's a perfect
fit.'
Charles Phillpot, CEO of Adventis added, 'we are all very excited about Mark
joining the Adventis team. Since his days at Bastin Day Westley, Mark has a pre
eminent reputation in the world of property as a leading creative personality.
We all very much look forward to working with him and his team.'
The former M2 business has already transferred several clients to Adventis such
as Higgins Homes, Argyll Homes and Delph Property Group.
Adventis Financial PR signs up clients
On June 22nd 2006 Adventis announced that it had formed Adventis Financial PR ('
AFPR') headed by veteran Financial PR man Peter Binns, currently 'Financial PR
of the Year.' To date AFPR has so far been authorised to act for 24 clients of
the new venture and the business is set to make a positive contribution to the
company's results in 2006, as well as continuing to raise it's profile.
Adventis still has £1.75m for further acquisitions
The Company is also pleased to announce that following a post acquisition review
of this activity and analysis of final net current asset payments, Adventis has
in excess of £1.75m cash to fund future expansion.
2006 trading continues ahead of 2005
Current trading for 2006 is in line with market expectations and ahead of 2005.
The Board remains positive about the Company's prospects for the full year.
Enquiries:
Charles Phillpot, Managing Director Peter Binns
Adventis Group plc AFPR
Tel: 020 7034 4750 Tel: 020 7034 4760
John Depasquale
Seymour Pierce
Tel: 020 7107 8010
This information is provided by RNS
The company news service from the London Stock Exchange
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