CSS Stellar PLC
31 October 2001
CSS Stellar plc (the 'Company')
Acquisition of The Sponsorship Consultancy Limited ('TSC')
Application has been made to The London Stock Exchange for 8,053 new ordinary
shares of 50p each ('New Ordinary Shares') to be admitted to trading on the
Alternative Investment Market ('AIM').
On 20 September 2001, the Company announced it had agreed the terms for the
acquisition of the entire share capital of TSC for a total consideration of up
to £750,000.
Under the terms of the acquisition agreement, the initial consideration of
£60,000 is to be satisfied as follows:
* £40,000 in cash; and
* £20,000 by the issue and allotment, subject to admission to trading on
AIM of 8,053 New Ordinary Shares.
In addition, and pursuant to terms of the acquisition agreement, Greville
Waterman, the Managing Director of TSC, has been granted an option to
subscribe for 30,303 ordinary shares of the Company under the terms of the CSS
Stellar Executive Share Option Scheme.
A further consideration may become payable over the two financial years ending
31 December 2003, based on TSC's aggregate profit before tax. Any further
consideration will be paid as to half in ordinary shares and half in loan
notes.
TSC was founded by Greville Waterman in 1993 and has a proven track record
advising on sponsorship sales and strategy in the sporting arena. Current
clients, many of which have long-standing arrangements with TSC, include Avon
Insurance, Ericsson, Muller UK, Fulham Football Club and Wasps Rugby Football
Club.
Admission of the 8,053 New Ordinary Shares is expected and dealings are
expected to commence on Tuesday, 6 November 2001.
Enquiries:
Sean Kelly, CSS Stellar Tel: 020 7907 4520
sean.kelly@css-stellar.com
29 October 2001
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