Avesoro Resources Regulatory News (ASO)

16 Oct 2006 07:00

Avesco PLC16 October 2006 For immediate release 16 October 2006 Avesco plc Acquires broadcast equipment hire business Avesco plc, the provider of services to the corporate presentation, entertainment and broadcast markets, announces that it has today acquired the entire issued share capital of Microwave Video Systems Limited ("MVS"), a specialist provider of radio frequency ("RF") technology and broadcast hire equipment in the UK. RF technology enables signals to be transmitted without the use of cables. MVS has been acquired by Avesco's subsidiary, Presteigne Limited, which isitself a leading supplier of broadcast television equipment and system solutionsto the broadcast and entertainment markets in Europe. The unaudited accounts ofMVS in respect of the 12 months ended 31 March 2006 show a small profit onturnover of £275,000 and net assets of £30,000. The acquisition is unlikely tohave a material impact on Avesco's results in the current year. Ian Martin, Chairman of Avesco said, "There is growing demand for highdefinition television RF systems, particularly in the sports broadcast market.The addition of MVS to Presteigne's existing expertise in this area is anexciting development and represents a continuation of Avesco's investment inthis growth business." For further information please contact: Ian Martin, Chairman, Avesco plc Tel: 01293 583400John Christmas, Group Finance Director, Avesco plc Terry Garrett, Alex White, John MoriartyWeber Shandwick Square Mile Tel: 020 7067 0700 This information is provided by RNS The company news service from the London Stock Exchange