TWE Twenty

RNS Number:7798B
Twenty PLC
09 August 2007




                                  9 AUGUST 2007

                                   TWENTY PLC
                                   (AIM: TWE)

                            SIGNIFICANT ACQUISITION
                    e-commerce specialist acquired for #7.9m


The Board of Twenty plc ("Twenty" or the "Group"), the AIM quoted integrated
marketing solutions provider, is today pleased to announce the acquisition of
the entire share capital of Ominor Limited ("Ominor"), a fast growing and
leading e-commerce solutions provider.



KEY POINTS

* Maximum consideration of #7.9m with initial consideration of #1.18m and
  a three year earn out based on the future performance of Ominor;

* Acquisition funded via a combination of existing cash resources, bank
  facilities and shares in Twenty;

* Non audited financials for Ominor (year ended June 2007), show a 92.6%
  increase in turnover to #1.13m (up from #589,000 for the year ended June 2006)
  and an operating profit of #213,000;

* Ominor client base of circa 30, comprising strong brands including
  BUPA, Healthspan, Evans Cycles Ltd. and J Sainsbury plc, adds to Twenty's 70+
  strong client portfolio;

* Acquisition supports the Group's overall 'buy and build' strategy; and

* Board continues to seek further complementary and enhancing acquisitions.



Terms

Under the terms of the acquisition, Twenty has acquired the entire share capital
of Ominor for a maximum consideration of #7.9m. The consideration comprises
#1.18m cash on completion, up to #2m in cash upon the achievement of certain
Profit Before Tax ("PBT") targets in the twelve months to August 2008, up to #1m
in cash upon the achievement of certain PBT targets in the twelve months to
August 2009 and up to #3.7m in cash and Twenty shares in the twelve months to
August 2010 upon the achievement of certain PBT targets for 2009 and 2010
combined. Ominor has total assets valued at #112,000.

As part of the initial consideration, Patrick O'Connor, Managing Director,
Ominor, has been issued share options amounting to 1% of the share capital of
Twenty plc at a price of 20p per share. These options are not exercisable until
after 3 years from time of completion of the acquisition have elapsed.

The acquisition supports the Group's 'buy and build' strategy through acquiring
businesses that support the provision of integrated marketing solutions which
can be deployed in the multi-channel arena on behalf of the Group's clients. The
strong growth of digital business is a key driver in the strategy of Twenty and
Ominor is key to the execution of this.

Over the past two years Ominor has demonstrated strong sales growth. This growth
is reflected in the non-audited financials to June 2007, showing a 92.6%
increase in turnover to #1.13m (up from #589,000 in the year to June 2006) and
an operating profit of #213,000.


Ominor

Founded in 2002, Ominor is a full service e-commerce provider with skills in the
concept to implementation, hosting and optimisation of e-commerce platforms
across a wide range of industry sectors. Ominor has developed its own
proprietary modular e-commerce platform which can be deployed flexibly to meet
client needs. Ominor clients include BUPA, Healthspan, Evans Cycles Ltd., J
Sainsbury plc and Dolland & Aitchison Ltd.

Ominor's offices are based in Chiswick, London, and the company employs staff of
around twenty individuals. There will be no changes made to the Board of Twenty.

Commenting on the acquisition, Patrick O'Connor, Managing Director of Ominor,
said: "I am highly motivated to be joining the Twenty Group at a time of such
rapid growth, and feel that the addition of our e-commerce skills will be able
to add significantly to the capabilities of the enlarged Group. It is the right
time for a company like Ominor to become part of a larger multi faceted group
with a strong client base, as our technology is ready to be deployed within
larger clients and now we have the financial resources of a public company to
provide them with the stability they seek."

Ian Lancaster, CEO of Twenty, added:  "The Board has looked at a number of
businesses in the e-commerce sector and is pleased with the choice made in the
acquisition of Ominor. The company has the technical platform and momentum to
become a major player in the provision of complete transactional e-commerce
platforms for both Blue Chip organisations, charities and SMEs. The opportunity
for Twenty to introduce the services of Ominor to its current 70+ clients will
enable further cross fertilisation of opportunities within the expanding Group".


                                 ---End---


Enquiries:

Twenty Plc                         Tel: 01908 829300
Ian Lancaster, Chief Executive

Daniel Stewart & Company plc       Tel: 020 7776 6550
Lindsay Mair

Bishopsgate Communications Ltd     Tel: 020 7562 3350
Dominic Barretto
Nick Farmer
twenty@bishopsgatecommunications.com


Further information on Ominor Limited: www.ominor.com

Further information on Twenty plc: www.twentyplc.com




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