ADVFN Regulatory News (AFN)

21 Nov 2005 07:30

ADVFN PLC21 November 2005 News release Under embargo until 7.30am Monday, November 21, 2005 ADVFN plc ("ADVFN" or the "Company") Proposed acquisition of Equity Holdings Limited ADVFN is pleased to announce that it has agreed terms, subject to contract andinter alia FSA approval of the proposed change of control, with the board ofEquity Holdings Limited ("EH") for the purchase of the entire issued sharecapital of EH for an aggregate consideration of up to £1,500,000 to besatisfied by a payment at completion of £500,000 in cash and ADVFN new ordinaryshares and a deferred consideration by reference to the turnover of EH in thethree financial periods ending 30 June 2008. Further announcements as to the timing of completion of the transaction will bemade in due course. Clem Chambers, CEO ADVFN, said "Equity Development is a well respected brand inthe equity research segment. Equity Development's regulated offering and ADVFN'sbroad distribution fit well together and should offer significant opportunitiesfor both platforms." Brian Basham, Chairman of Equity Holdings, said: "It is eight years since Equity Development was established. It was an ideaahead of its time, but the concept of issuer-financed research is now firmlyestablished and welcomed by the investment community. Equity Development has nowdeveloped a brand that is widely recognised for quality and objectivity. Welook forward to working with ADVFN to further expand Equity Development." NOTES TO EDITORS For further press information, please contact: Francesca De Franco on 020 70700932 E-mail francescad@advfn.com About ADVFN ADVFN (www.advfn.com) is Europe's number one stocks and shares Web site. Withfull real-time coverage of the London Stock Exchange, the euronext-liffe, OFEX,NASDAQ, Amex and NYSE, including FTSE, Dow and S&P indices, ADVFN providesprofessional quality information to the person on the street. ADVFN was established in the last quarter of 1999 and floated on AIM in March2000. It now has over 550,000 registered users who generate in excess of 38million page impressions a month. We currently cover the following areas in the UK, France and America: • Free real-time prices from the London Stock Exchange• EURONEXT-LIFFE• EURONEXT - Paris, Brussels and Amsterdam• NASDAQ• NYSE• AMEX• CBOT• OFEX• FOREX• GTIS FOREX• NYMEX• COMEX• Chicago Mercantile Exchange (CME)• Kansas Board of Trade• OneChicago• Russian stocks and indices• Canadian stocks, indices, options and derivatives• German stocks and indices - Xetra• Irish stocks and indices• Mexican Exchange• Chilean Exchange• Greek stocks and indices• Singapore stocks and indices• Helsinki Stock Exchange• Stockholm Stock Exchange• Copenhagen Stock Exchange• Warsaw Stock Exchange• Swiss Indices• Johannesburg Stock Exchange and indices• Level 2 data• Comprehensive fundamental data• Streaming stock charts, historic and intraday• CREST stock loan data• Portfolios• RNS and AFX news• UK's busiest financial bulletin boards• Historical data downloads• Stock monitors and filters• Covered Warrants• Trading signals• Investor Relations Web site solutions• PDA service• SMS stock quote service• Headlines - news headline and archive search This information is provided by RNS The company news service from the London Stock Exchange