Successful £5m placing to support continued rapid growth and expansion
23rd October 2007
The Mission Marketing Group plc ("TMMG" or "themission®"), the national marketing
communications and advertising group, announced today that it has conditionally raised £5
million (gross) through the placing of 3,571,429 new ordinary shares ("Placing Shares") at a
Placing Price of 140 pence per share to institutional investors.
The net proceeds of the placing will provide TMMG with the financial flexibility to continue to
pursue its successful strategy of combining above industry average organic growth with the
creation of a national network of agencies through selective acquisitions. All acquisition
opportunities must be consistent with themission's strategy of adding high quality, rapidly
growing complementary businesses that extend its service offering and geographic footprint
and are earnings enhancing in the first full year of ownership.
During a busy 18 months since its IPO, themission® has successfully acquired and
integrated Bray Leino, April-Six and thinkBDW. The acquisition of Story UK, announced on
11 September, provides TMMG with additional direct and digital expertise and a strong
presence in Scotland. themission® is now well positioned to provide its predominantly
national and international clients with more services in more locations. Based on the
successful implementation of this strategy, the Board continues to actively pursue acquisition
opportunities in dynamic industry sectors.
The placing is conditional on, inter alia, shareholder approval and notice of an extraordinary
general meeting of the Company ("EGM") has been posted to shareholders today at which
shareholders will consider and, if thought fit, pass the resolutions relating to the grant and
renewal respectively of the Company's authorities in respect of the allotment of the Placing
Shares and new ordinary shares generally and the implementation of a SAYE scheme.
The EGM will be held at 10:00 am on 15 November 2007 and it is anticipated that the
Placing Shares will be admitted to trading on the AIM market on 16 November 2007.
Commenting on the successful placing Iain Ferguson, CEO, said: "The placing provides us with the financial flexibility to continue to accelerate our expansion plans. Our focus on quality companies specialising in dynamic sectors is driving strong organic growth. This, coupled with a proven ability to make and rapidly integrate acquisitions, means we are well positioned to build a bigger platform from which to drive further growth."
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Ends
Enquiries:
Iain Ferguson, Chief Executive 07860 361432
Tim Alderson, Chief Financial Officer 07931 546672
themission® 020 7959 3011
Charles Palmer/Nicola Biles 020 7831 3113
Financial Dynamics
Mark Percy 020 7107 8000
Seymour Pierce Limited
The Mission Marketing Group
themission® is a national marketing communications and advertising group with 10 offices
across the UK. The Group specialises in providing national and international clients with
award winning marketing, advertising and business communications. Group members
include April-Six, Bray Leino, Big Communications, Fuse Digital, thinkBDW and Story UK.
themission® employs over 550 staff nationally and is listed on AIM (TMMG).