Success Events Ltd Acquired

ADVFN.COM PLC
17 April 2000
 

ADVFN acquires Success Events Limited
 
ADVFN.COM PLC ('ADVFN'), one of the UK's leading providers of financial
information, announces the proposed acquisition of all the issued share
capital of  Success Events Limited ('Success Events').

Success Events, which is wholly owned by Mike Boydell (Managing Director of
ADVFN) and family, was formed in September 1986  (name changed to Success
Events Limited on 5th October 1999).   Its principal business is as one of the
leading providers of Private and Institutional Investment Training in the
United Kingdom. It has gained a strong reputation amongst its clients as well
as with the media.

The Company's prime role is to provide training courses across a range of
financial subjects including Technical Analysis, Day Trading, Futures and
Options.
  
In the six months to 29 February 2000, Success Events Limited reported sales
of £75,000 and pre-tax profits of £27,000.  Net assets at the same date were
£12,000.
 
The total consideration for the acquisition is £350,000, which will be
satisfied by the issue of 504,323 new ordinary shares in ADVFN at 34.7 pence
per share, calculated by reference to the average middle market quotation on
the Alternative Investment Market (AIM) for the five business days immediately
preceding 13 April 2000, the date on which the Board of ADVFN approved the 
terms of the proposed acquisition, together with £175,000 in cash.  Mike
Boydell and Sarah Boydell, the principal shareholders in Success Events
Limited, have agreed not to dispose of any of their consideration shares for a
period of 12 months after completion of the acquisition.
 
As Mike Boydell is a director of ADVFN the transaction is with a related party
and ADVFN requires shareholder approval.  A document setting out details of
the proposed acquisition and a notice of an Extraordinary General Meeting (to
be held on 2 May 2000) is being posted to shareholders. Application is being
made for the consideration shares to be admitted to trading on AIM with
admission becoming effective, subject to shareholder approval of the
acquisition, on 3rd May 2000.
 
The directors of ADVFN  (excluding Mike Boydell due to his interest in the
transaction) are of the opinion, having consulted with Grant Thornton the
company's Nominated Adviser, that the terms of the transaction are fair and
reasonable so far as shareholders in ADVFN are concerned.  Accordingly the
Directors (excluding Michael Boydell) recommend shareholders to vote in favour
of the resolution to be proposed at the Extraordinary General Meeting, as they
and certain other shareholders have irrevocably undertaken to do in respect of
their shareholdings of 193,020,000 shares in aggregate representing 77.2 per
cent of the issued share capital of ADVFN.
  
Commenting on the acquisition, Michael Hodges, chairman of ADVFN said: 'We are
very pleased to be able to announce the first acquisition by ADVFN since its
flotation on the AIM market in March. 

The purchase of Success Events Limited significantly enhances the business of
ADVFN.  We strongly believe that financial education is paramount to the
continued success of financial information sites such as ADVFN.COM. With the
substantial growth in the numbers of private investors entering the equity
markets, we are now positioned not only to provide them with good financial
tools, but also help them to broaden their understanding and knowledge of such
markets through training.
 
At ADVFN, we plan to expand on the successful format of these training courses
and extend them to Internet based courses aimed at both the novice investor as
well as those with more experience.'

EDITOR'S NOTE:

ADVFN successfully floated in London on AIM in March 2000 and is part of the
On-line PLC group of companies. On-line PLC retains 76% of the company.
 
ADVFN went live in the last quarter of 1999 and has attracted considerable
attention for its unique range of services, including:
 
*       Real-time prices direct from the Stock Exchange. 
*       User-configurable E-mail alerts. 
*       Comprehensive fundamental data. 
*       Stock monitor. Track stocks - with automatic updates. 
*       Portfolio service. Update and track your portfolios. 
*       Fast quotes. 
*       Top Lists. 
*       RNS news 
*       ADVFN in house Newswire 
*       Trade Analyser 
*       Charts (historic, intraday, Microscope) 
*       Data download area 
*       Informed and active Bulletin Boards 

In addition, ADVFN have recently announced e-mail alert features and the
Metatrade service graphically depicting share price movement and market
activity.

Enquiries: 
 
Michael Boydell 
ADVFN.COM PLC
Tel: [phone]

Richard Oldsworth
Buchanan Communications
Tel: [phone]