Acquisition of Viral Film Maker ST16 Limited

RNS Number : 0150Z

Aeorema Communications Plc

09 March 2012

 



Aeorema Communications plc / Index: AIM / Epic: AEO / Sector: Media

Aeorema Communications plc ('Aeorema' or 'the Company')

Acquisition of Viral Film Maker ST16 Limited

Aeorema Communications plc, the AIM-traded multi-media specialist, has acquired the entire issued share capital of ST16 Limited ('ST16'), a company that specialises in viral filmmaking.  The total consideration payable for the acquisition is £86,500, payable part in cash and part by the issue of up to 200,000 new ordinary shares of 12.5p each in the capital of the Company at 23.25p per share (the 'Consideration Shares').  

ST16 was founded in 2000 by Jeremy Stinton and Simon Crofts and over recent years has moved into the creation of viral film and video content that affects what people think, know and do.  ST16 has produced award winning film and video content for a vast array of businesses looking for new, cutting edge online PR and sell-in strategies.  Clients include Marston's, the NHS, ARM and Fujitsu.

For the year ended 30 June 2011, ST16 recorded profit before tax of approximately £23,000 (unaudited) on turnover of approximately £216,000.  As at 30 June 2011, ST16 had net assets of approximately £2,000.

Mike Hale, Chairman of Aeorema, commented;  "Increasingly, businesses are looking at new marketing methods such as viral films to create effective attitude and behavioural change to their benefit.  ST16 has been making cutting edge viral films for over 10 years and is at the forefront of this rapidly growing industry.  With its blue-chip client base and award winning profile, we are delighted that ST16 is now part of the Aeorema group and we look forward to working with its team to further develop this powerful marketing tool."

The Company has made application for the 200,000 Ordinary Shares of 12.5p each to be admitted to trading on AIM.  Admission is expected to occur on 14 March 2012.  For the purposes of the Disclosure and Transparency Rules, the Company's total issued share capital at the date of this notice consists of [8,037,500] ordinary shares of 12.5p each.

Additionally, Jeremy Stinton and Simon Crofts have each been granted 300,000 options under Aeorema's existing EMI scheme at an exercise price of 23.25p per share.  The EMI options are exercisable from the third anniversary of the date of grant until the tenth anniversary of the date of grant and are not subject to any performance criteria for exercise.

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For further information visit www.aeorema.com or contact:

Gary Fitzpatrick	Aeorema Communications plc	Tel: [phone]
Mark Percy	Seymour Pierce	Tel: [phone]
Catherine Leftley	Seymour Pierce	Tel: [phone]
Frank Buhagiar	St Brides Media & Finance Ltd	Tel: [phone]

 

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