Wilmington Group Plc
20 October 2005
20 October 2005
WILMINGTON GROUP PLC
Acquisition of Ark Group
Wilmington Group plc ('Wilmington' or the 'Group'), the professional information
and training group, is pleased to announce the acquisition of Ark Group ('Ark').
Wilmington has acquired 85% of the issued share capital of Ark for an initial
consideration of £5.355 million in cash with a further payment based on the
audited accounts of Ark for the year to 28 February 2006. Wilmington has entered
into put and call arrangements for the outstanding 15% of Ark to be acquired by
2013. The maximum aggregate consideration payable for 100% of Ark will be £14m.
Ark is a well established and profitable business providing publishing and
conferences to key professional markets including legal and professional
practices, international finance, the public sector and information management
professionals. Ark organises more than 120 events per year and publishes key
titles including Managing Partner and Inside Knowledge. With offices in London,
Chicago, Singapore and Sydney, Ark has grown strongly since its launch in 1994.
Turnover in the year to 28 February 2005 was £6.3 million generating profit
before interest and tax of £748k.
The acquisition of Ark will enhance the offering of Wilmington's Legal &
Regulatory division with exciting opportunities for leveraging key brands and
databases, and the exploitation of synergies across the Group.
- ends -
For further information, please contact:
Wilmington Group Plc 020 7422 6800
Charles Brady, Chief Executive
Basil Brookes, Finance Director
Weber Shandwick Square Mile 020 7067 0700
Nick Oborne or Yvonne Alexander
Note to Editors
Wilmington Group plc is one of the UK's leading providers of information and
training for professional business markets. The Group provides training,
arranges industry events and publishes magazines, directories, databases, and
special reports focused primarily on its five principal sectors of Legal &
Regulatory, Healthcare, Media and Entertainment, Drinks and Catering and Design
and Construction. Capitalised at approximately £120 million, Wilmington floated
on the London Stock Exchange in 1995.
This information is provided by RNS
The company news service from the London Stock Exchange
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