GlobalData PLC Possible Acquisition (8565F)
February 26 2018 - 2:01AM
UK Regulatory
TIDMDATA
RNS Number : 8565F
GlobalData PLC
26 February 2018
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
GlobalData Plc
Possible Acquisition
The board of directors ("Board" or "Directors") of GlobalData
Plc (AIM:DATA) ("GlobaData", the "Company" and, together with its
subsidiary undertakings, the "Group") announces that the Company is
in advanced discussions concerning the possible acquisition of
Energy, Construction and Financial Services data and analytics
companies, Research Views Limited, Progressive Ventures Limited,
Progressive Media Ventures Limited and their respective
subsidiaries (together the "Target Group"), private companies owned
by Mike Danson (CEO, GlobalData) and a number of other minority
shareholders including Wayne Lloyd (Managing Director, GlobalData
US) (the "Vendors") (the "Acquisition"). It is envisaged that the
Target Group will be re-organised prior to completion of the
Acquisition to form a single group owned by Research Views
Limited.
It is currently expected that the consideration for the
Acquisition is to be satisfied through the issue of approximately
18 million new ordinary shares in the Company to the Vendors,
representing approximately 17.6% of the Company's current issued
share capital. The Board intends that appropriate lock-in and
orderly market arrangements will be put in place.
In the year to 31 December 2017, the Target Group generated pro
forma revenues of approximately GBP27.0m.
The Directors believe the Acquisition will further advance the
Company's transformation into a global data and analytics company
with a truly differentiated multi-industry offering, significantly
increasing its addressable market. It will add the Energy industry
and strengthen the recently acquired Construction business. It will
provide complementary intelligence assets and capabilities relevant
to existing Healthcare and Financial Services industries.
The Acquisition is commercially aligned to the Group's primarily
subscription based model and is operationally complementary
especially in the context of the Group's existing analyst and
client service operations. Following the Acquisition the Group
addresses at least 8 major global industries with a global expert
community operating in 23 offices worldwide.
The Acquisition is expected to be earnings accretive in the
first full year of ownership.
If final terms are agreed between the respective parties
together with satisfactory due-diligence, the Acquisition will
require the approval of GlobalData's shareholders at a general
meeting.
In addition, the Acquisition would constitute a related party
transaction for the purposes of Rule 13 of the AIM Rules for
Companies, and the Company's independent directors would, amongst
other things, be required to confirm that the terms of the
proposals are fair and reasonable insofar as GlobalData's
shareholders are concerned.
The Acquisition remains subject to binding legal agreements and
there can be no certainty that these discussions will lead to a
transaction.
Further announcements will be made at the appropriate time.
GlobalData Plc
Bernard Cragg, Executive
Chairman
Graham Lilley, Chief
Financial Officer 0207 936 6400
N+1 Singer
James Maxwell
James White 0207 496 3000
Hudson Sandler
Nick Lyon 0207 796 4133
This information is provided by RNS
The company news service from the London Stock Exchange
END
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