Holding in US Operation
September 14 2007 - 10:42AM
UK Regulatory
RNS Number:8951D
Thomson Intermedia PLC
14 September 2007
14 September 2007
Thomson Intermedia plc
Increased holding in US operation
Thomson Intermedia plc ("Thomson Intermedia" or the 'Group', AIM: THN), a
leading provider of media intelligence, has acquired 15.2 per cent. of Media
Performance Monitor America ("MPMA"), the Group's US media auditing subsidiary,
from Erwin Ephron, a co-founder of MPMA. The Group bought 79.8 per cent of MPMA
as part of the billetts acquisition in August 2005. The outstanding 5.0 per
cent has been retained by PJ Leary, the Chief Executive Officer of MPMA.
The consideration is $257,640 in cash, funded from the Group's own resources.
In the year to April 2007 MPMA contributed $316,092 of operating profit to the
Group. The Group sees considerable opportunities for growth in the US market
and expects the transaction will be earnings enhancing in the financial year to
30 April 2008.
The proposed acquisition is a related party transaction as defined in the AIM
Rules. The Directors of Thomson Intermedia consider the terms of the transaction
to be on normal commercial terms and having consulted with Landsbanki Securities
(UK) Limited, the Group's nominated adviser, consider the terms of the
transaction to be fair and reasonable insofar as Thomson's shareholders are
concerned.
Enquires:
Thomson Intermedia plc 020 8466 5555
Sarah Jane Thomson - Joint Chief Executive
Michael Uzielli - Finance Director
Landsbanki Securities (UK) Limited 020 7426 9000
Shaun Dobson/ Fred Ward
College Hill 020 7457 2020
Adrian Duffield
This information is provided by RNS
The company news service from the London Stock Exchange
END
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