Admission to AIM
Adventis Group PLC
01 July 2004
Adventis Group plc - First Day of Dealings on AIM
Adventis Group plc
1st July 2004
Adventis Group plc commences trading on AIM after £3.6 million placing
Proceeds to expand the business further by acquisitive and organic growth
Background
Adventis Group plc ('Adventis' or the 'Company') began its first day of trading
today on the Alternative Investment Market (AIM: ATG). The Company successfully
raised £3.6 million via a share placing at 28.5p. WH Ireland Ltd acted as
nominated adviser and broker to the Company.
Adventis Group plc is a multi media marketing and advertising agency which
currently provides services principally to the residential and commercial
property industries, as well as the pharmaceutical, legal and financial services
sectors.
Adventis had a turnover and profit before taxation of £9,159,000 and £419,000
respectively for the financial year ended 31st December 2003 and currently
employs 43 staff. The Company operates and trades via its three wholly owned
subsidiaries, Property Marketing Company Limited, Gilbert Doyle Oakmont Limited
and Premium Media Limited.
Adventis has evolved from the marketing department of FPDSavills Ltd, a property
services subsidiary of Savills plc, one of the UK's leading firms of
property consultants and real estate agents listed on the Official List.
FPDSavills Ltd will retain a 45.5 per cent. holding immediately after Admission.
In recent years, the range of marketing and advertising services that the
Company offers has grown, as have the type of customers and industry sectors
which the Company operates within.
Opportunities for development
The Directors believe that the successful growth of Adventis' marketing
services, the proceeds of the flotation and the ability to structure
transactions with quoted shares is a solid platform for further organic and
acquisitive expansion. The Directors have identified a number of areas of
opportunity, within which the Company will seek to take advantage, including:
• The servicing of the Company's current core business sectors, within the
residential and commercial property sectors, is currently maintained by a
large number of small operators. The Directors believe that there is a
significant opportunity to consolidate the Company's position as a leading
provider of marketing services in the property sector through the
acquisition of companies or key management;
• The Directors consider that there are opportunities to accelerate the
Company's current strategy of diversifying into certain strategic sectors,
such as pharmaceuticals and financial services, by way of acquisition
of niche operators with sector expertise; and
• The Directors believe that there is also an opportunity to increase further
its profit margins by providing services currently sub-contracted to third
parties.
The Directors intend to not only seek to expand the Adventis' operations
by acquiring companies or businesses, but where possible to attract new staff
with proven revenue earning potential and appropriate sector expertise. The
terms of employment of such appointments will be structured to incentivise
profitability and revenue generation.
The Directors intend to have careful regard to certain key criteria for the
potential expansion of its operations. Such criteria would include:
• Profitability and cash flow impact on the Company;
• Complementary fit into the existing businesses of Adventis;
• Further diversification of the Company's business into key
strategic sectors; and
• The impact on shareholder value.
Commenting on the flotation today, Peter Mitchell, the Company's
Non-Executive Chairman, said, 'This is a very exciting time for Adventis
and we are very pleased to have successfully floated on AIM. With the current
demand for specialist marketing and advertising services in the UK, we believe
that Adventis is well-placed to become a consolidator in the fragmented
marketing services sector as well as building organically from our solid
platform of profitable growth.'
Charles Phillpot, Managing Director Sarah Gestetner, Fiona Bradshaw,
Fiona Mulcahy
Adventis Group plc Citigate Dewe Rogerson
Tel: 020 7034 4750 Tel: 020 7638 9571
Philip Haydn-Slater
WH Ireland Limited
Tel: 020 7397 3160
Key Statistics
Number of Ordinary Shares in issue prior to the Placing 21,052,632
Number of New Ordinary Shares being issued on behalf of
the Company pursuant to the Placing 10,526,316
Number of Sale Shares 2,121,600
Placing Price 28.5p
Number of Ordinary Shares in issue on Admission 31,578,948
Estimated net proceeds of the Placing receivable by the Company £2,670,000
Market capitalisation of the Company at the Placing Price
on Admission £9,000,000
Percentage of Enlarged Share Capital represented by
the New Ordinary Shares 33.3%
Board of Directors
Peter Mitchell, Non-Executive Chairman, age 68
Peter has spent the majority of his career in senior general management and
marketing management roles. He is presently Deputy Chairman of Capital Radio
Group plc, Chairman of the Remuneration Committee and a member of the Audit
Committee. From 1983 to 1997 he held director level roles at Guinness plc,
initially as Group Brands Director and later as Group Strategic Affairs
Director, each having worldwide responsibilities. He was a director and council
member from 1995 to 2001 of the Advertising Standards Authority Ltd, the body
responsible for regulation of all UK non broadcast advertising and marketing
communications. From 1997 to 2003 he was chairman of management consultancy
Mountainview Group Ltd. From 1994 to 1996 he was President of the World
Federation of Advertisers. His early career was with Procter & Gamble, Mars Inc.
and Johnson & Johnson.
Charles Phillpot, Managing Director, age 49
Charles has been the Managing Director of Adventis Group plc since it was
incorporated in 1998. He joined the marketing department of FPDSavills in 1988
rising to Marketing Director. He began his career in marketing with J Walter
Thompson and then Ogilvy & Mather. Before joining FPDSavills, he was a regional
Marketing Director for De Beers responsible for the 'A diamond is
forever' campaign in the largest global market, Japan, and other
countries including France, Italy, Korea, Scandinavia and South Africa. He has
extensive experience on the strategic and commercial aspects of marketing in the
UK and overseas, at both client and agency level.
Allan Collins, Part-time Finance Director, age 42
Allan is a chartered accountant and a member of the Chartered Institute of
Taxation. He is currently Finance Director of FPDSavills. He joined in 1998 from
General Refrigeration Ltd where he was Finance Director, having previously been
at P&O Containers. He started his career at PricewaterhouseCoopers in the Audit
and Advisory Department (gaining experience of mergers and acquisitions), moving
to the Corporate Taxation Division.
Rupert Sebag-Montefiore, Non-Executive Director, age 50
Rupert joined Savills plc in 1980 and was appointed to the board in 1991. In May
2000 he became Managing Director of FPDSavills, the general practice surveying
subsidiary of Savills plc. He was appointed to the board of Savills plc in 1995.
In January 2001 he was appointed the Board of Fastcrop plc (the holding company
of Primelocation.com), an internet property aggregator site in which FPDSavills
has made an investment. He is also Governor of Bournemouth University.
Neil Crabb, Non-Executive Director, age 36
Neil is joint Managing Director of Sigma Technology Group plc, a technology
investment and advisory business quoted on AIM, providing assistance to a number
of early-stage UK companies. He has previously worked as an investment manager
running both quoted and unquoted portfolios, and amongst other directorships is
a director of AIM quoted Micap Plc and Strategic Investment Management Limited,
a property investment business.
This information is provided by RNS
The company news service from the London Stock Exchange