UOG United Oil & Gas Plc

RNS Number:2816J
Screen PLC
18 April 2000

Screen PLC ("the Company") - Acquisition of Tranzline Limited


The Company announces that it has today entered into a conditional agreement
to purchase the entire issued share capital of Tranzline Limited
("Tranzline").

The consideration payable for Tranzline comprises #435,000 payable in cash on
completion and #800,000 to be satisfied by the issue of 4,155,844 ordinary
shares at a price of 19.25 pence per share on completion.  In addition, a
further #100,000 to be satisfied by the issue of 519,481 ordinary shares at a
price of 19.25 pence per share would be payable if certain net asset value and
profit targets are met for the year ending 31 March 2001.

Tranzline was formed in 1987 and is a leading author in the UK for Customer
Relationship Management ("CRM") software.  Tranzline's CRM software is highly
configured, web-enabled and manages for an organisation the total
customer/supplier interface.

Tranzline's turnover for the year ended 31 March 2000, based on its management
accounts, was approximately #1,046,000. Tranzline's management accounts for
the twelve month period ended 31 March 2000 showed profit before tax of
approximately #3,000 and net liabilities of approximately #251,000. 

Petards Datax, a subsidiary of the Company, which has been providing mobile
data systems for police and emergency services has been planning to take its
technology and products to the commercial market.  The Company believes that
Petards Datax's vehicle mounted and WAP-enabled handheld devices once combined
with Tranzline's CRM software will offer an attractive product for the
commercial market.  


END

ACQUWOURRORSAAR

United Oil & Gas (LSE:UOG)
Historical Stock Chart
From Nov 2024 to Dec 2024

United Oil & Gas (LSE:UOG)
Historical Stock Chart
From Dec 2023 to Dec 2024