Information  X 
Enter a valid email address

Freshwater UK PLC (FWUK)

  Print   

Thursday 08 May, 2008

Freshwater UK PLC

Change of Registered Office

Freshwater UK PLC
08 May 2008



Date:             8 May 2008
On behalf of:     Freshwater UK PLC ('Freshwater', 'the Company' or 'the Group')
Embargoed until:  0700hrs



Freshwater UK PLC

•  Exchange of contracts on Freshwater House

Freshwater UK PLC (AIM: FWUK), the PR-led marketing group with a UK regional
network, today announced it has exchanged contracts for the sale of its head
office Freshwater House (Cardiff Gate Business Park), and is integrating all its
45 Cardiff-based staff in leased offices, delivering ongoing cost savings.

The new 8,000 sq ft offices at Raglan House, Cardiff Gate Business Park, will
bring together the client-facing teams of Freshwater Wales, Freshwater Creative
and Merlin Marketing and PR, which the Group acquired in February 2008.

The new offices will facilitate the integration of the three businesses into two
operations, a combined PR team serving clients in Wales and a single Creative
team serving clients across the UK. The new premises incorporate video-DVD
editing and production facilities, a graphic design studio, training and meeting
rooms, and a library.

Raglan House will also provide a base for the Group's head office team,
including finance, HR and communications staff.

Merlin Marketing and PR has terminated its lease at The Wharf, Schooner Way,
Cardiff Bay, with effect from the end of May.

The sale price of Freshwater House is £750,000 and the anticipated profit on
disposal is £130,000. Completion of the sale is expected to take place on 2 June
2008. Freshwater UK PLC will be announcing its interim results on 15 May 2008.

As a result of this change in office the address of Company's registered office
will be Raglan House, Cardiff Gate Business Park, Cardiff, CF23 8RA from 9 May
2008.


Freshwater UK's Finance Director, Haydn Evans said:

'This reorganisation, combining all our Cardiff-based staff in one location,
will deliver integrated client services, ongoing cost savings and a substantial
net gain from the sales of Freshwater House.

'It was planned as part of the acquisition of Merlin Marketing and PR, and the
process has been carefully synchronised to deliver maximum benefit as quickly as
possible.'
   


                                     - Ends -




Enquiries to:

Freshwater UK
Steve Howell, CEO                              Enquiries to Sian Grieve on 02920
Haydn Evans, CFO                               545383 or via Redleaf 
Edward Carter, Group Executive Director        Communications

Charles Stanley Securities (Nominated Adviser)
Mark Taylor/ Freddy Crossley                   Tel: 020 7149 6000


Redleaf Communications                         Tel: 020 7822 0200
Emma Kane/ Sanna Sumner/ Anna Dunkin           [email protected]




Notes to Editors


•  Freshwater UK plc was founded in 1997 by Steve Howell, CEO and
   listed on AIM on 16 July 2007

•  Freshwater UK aims to become one of the top providers of regional PR
   services to major national brands while also retaining and developing strong
   client portfolios in each region

•  Freshwater is an integrated PR and marketing business that combines
   a UK regional network with specialist expertise in sectors including 
   technology, healthcare, consumer, the public sector, community relations, 
   policy conferences and public affairs

•  Freshwater provides three divisions in marketing support services:

•  Creative
      Graphic design and media buying to its own portfolio of clients as well 
      as PR and marketing clients across the Group

•  Academy
      Training, coaching and consultancy across Britain to clients in the 
      public and private sector

•  Digital
      Digital services, including broadcast quality video DVDs, websites, 
      podcasts, video streaming and electronic newsletters

•  Freshwater has completed ten acquisitions since 2004, six of which are now 
   trading under the Freshwater brand. The directors believe that the Group
   has established a strong brand within the PR and marketing services sector 
   and is well placed to achieve further growth both organically and through 
   targeted acquisitions in fitting with the Group's overall strategy

•  The acquisition of Merlin Marketing and PR has enhanced Freshwater's 
   position as the leading Welsh PR agency and expanded our capabilities in
   interactive media, graphic design, video-DVD production, event management and
   marketing. This has had an immediate impact on cross-selling.




                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                                                                       

a d v e r t i s e m e n t