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Pin to quick picksCroma Security Regulatory News (CSSG)

Share Price Information for Croma Security (CSSG)

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Share Price: 72.50
Bid: 70.00
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Acquisition

3 Feb 2006 07:00

Croma Group PLC03 February 2006 3 FEBRUARY 2006 CROMA GROUP PLC ("Croma" or "the Group") ACQUISITION OF VIGILANT (SCOTLAND) LIMITED The Board of Croma, the specialists in the design, development and production ofovert and covert surveillance, security and defence related products, is pleasedto announce today the acquisition of specialist asset protection companyVigilant Security (Scotland) Limited ("Vigilant"). As well as broadening the Group's product range and services, the addition willenhance Croma's cross-selling capabilities. HIGHLIGHTS •Croma to acquire Vigilant for an initial payment of £804,000 to be satisfied in cash and the issue of 8,907,692 new ordinary shares; •This is the first of two acquisitions referred to in October's trading statement; •Vigilant will operate as a stand alone, but wholly owned subsidiary of Croma; •Increased cross-selling opportunities; and •Placing of 6,500,000 new ordinary shares at 5p each announced 31 October to part finance acquisition. Vigilant is a specialist company dealing with asset protection in theindustrial, commercial and public utilities market. Management and operatives ofthe company are primarily ex Military personnel, well versed in the variousaspects of high level security and protection. Vigilant is also developing aForces resettlement course for re-training of servicemen operating in hostileenvironments. In the year ended 31 December 2004 Vigilant generated profit before taxation ofapproximately £88,000 on turnover of approximately £1,202,000. Net assets as at31 December 2004 were £97,000. Vigilant will operate as a stand alone, but wholly owned subsidiary of CromaGroup, trading as Croma Vigilant Limited, with an operating base in Scotland.Whilst continuing to operate and further develop its prime areas of activities,Vigilant will also benefit from the interchange between other Croma Groupcompanies in terms of products and services. This should result in a level ofcross referral between the respective customer bases. The initial payment for the acquisition is £804,000 comprising of £225,000 incash and the balance in Croma shares at 6.5p ("Vendor Shares"). Further paymentsup to a maximum of £2,196,000 will be made on a performance-related basis forthe trading period ending 31 December 2006. The Board also highlights to shareholders today that work is progressing towardsthe completion of the second acquisition which is in the field of biometrics. Itis hoped that this will take place shortly upon completion of the due diligence. Croma also announced on 31 January 2006 that it has placed 6,500,000 newordinary shares at 5p each with existing institutional shareholders to, in part,fund the initial cash consideration for Vigilant. Application has been made for the admission of the Vendor Shares to trading onthe AIM market of the London Stock Exchange on 9 February 2006. The VendorShares will rank pari passu with the existing ordinary shares of the Company. Commenting on the acquisition John French, Croma's Chairman and Chief Executivesaid "We are very pleased with this acquisition. Not only as a stand alonesubsidiary with significant opportunities for growth, but also for the exchangeof potential customer development between the company and other members of theCroma group. "There are a number of areas of development which have been targeted and weexpect to see some interesting developments follow through as a result of thisacquisition. It is also pleasing to note that the Vendors have accepted theshare element of the acquisition at a premium, which I believe indicatesconfidence in the prospects of Croma going forward." --ENDS-- Enquiries: Croma Group plcJohn French, Chairman & Chief Executive Mobile: 07836 722 482 Bishopsgate Communications Ltd. Tel: 020 7430 1600Dominic Barretto Mobile: 07930 450 156Nick Rome Mobile: 07748 325 236 Notes to Editors: Listed on the AIM market of The London Stock Exchange, Croma Group plc, the specialists in the design, development, production and marketing of overt and covert surveillance and defence related products, comprises of three divisions; namely Croma Defence Systems Ltd, Shawley (a division of Croma Defence) and R&D Design Services Ltd. This information is provided by RNS The company news service from the London Stock Exchange
Date   Source Headline
2nd Jul 20207:00 amRNSDirector/PDMR Shareholding
1st Jul 20207:00 amRNSDirector/PDMR Shareholding
15th Jun 20207:00 amRNSContract Renewal and Uplift
8th Jun 20207:00 amRNSTrading Update
4th Jun 20204:40 pmRNSSecond Price Monitoring Extn
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19th Mar 20203:01 pmRNSCancellation of Dividend
2nd Mar 20207:00 amRNSHalf-year Report
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27th Nov 20191:32 pmRNSResult of AGM
21st Oct 20197:00 amRNSFinal Results
29th Mar 20196:00 pmRNSHolding(s) in Company
18th Mar 201912:58 pmRNSDirector/PDMR Shareholding
26th Feb 20194:30 pmRNSDirector/PDMR Shareholding
26th Feb 201912:54 pmRNSDirector/PDMR Shareholding
25th Feb 20197:00 amRNSHalf-year Report
18th Feb 20197:00 amRNSTrading Statement
21st Dec 20188:33 amRNSHolding(s) in Company
19th Dec 20187:46 amRNSHolding(s) in Company
28th Nov 20182:32 pmRNSResult of AGM
22nd Oct 20187:00 amRNSFinal Results
4th Sep 20187:00 amRNSTrading Statement
12th Apr 201811:04 amRNSDirector/PDMR Shareholding
11th Apr 201810:43 amRNSHolding(s) in Company
10th Apr 20183:33 pmRNSDirector/PDMR Shareholding
5th Apr 20181:34 pmRNSDirector/PDMR Shareholding
28th Mar 20183:21 pmRNSHolding(s) in Company
26th Mar 20185:12 pmRNSHolding(s) in Company
26th Mar 20187:00 amRNSDirector/PDMR Shareholding
22nd Mar 20187:00 amRNSExercise of Options, PDMR Dealing and TVR
28th Feb 201812:00 pmRNSTransaction in Own Shares
28th Feb 20187:00 amRNSHalf-year Report
5th Feb 20187:00 amRNSTrading Update
18th Dec 20177:00 amRNSNew Contract Win
6th Dec 201712:45 pmRNSPurchase of Own Shares
1st Dec 201712:58 pmRNSResult of AGM
3rd Nov 20177:00 amRNSFinal Results
20th Sep 20178:04 amRNSHolding(s) in Company
11th Aug 20173:41 pmRNSBoard Change
6th Jun 20177:00 amRNSIssue of Shares
27th Apr 20177:00 amRNSNew Contract Wins
20th Apr 20173:03 pmRNSDirectorate Change
27th Mar 20175:50 pmRNSHolding(s) in Company
1st Mar 20177:00 amRNSInterim Results to 31 December 2016
10th Feb 20177:00 amRNSHolding(s) in Company
1st Feb 20177:00 amRNSNew Contract Win
16th Jan 20174:49 pmRNSDirector/PDMR Shareholding
16th Dec 20162:19 pmRNSResult of AGM and Directorate Change
7th Dec 20167:00 amRNSNew Contract Win

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