4Imprint Regulatory News (FOUR)

22 Jul 2005 07:09

4imprint Group PLC22 July 2005 Press Release 22 July 2005 4imprint Group plc Sale of Adventures in Advertising Franchise Inc by 4imprint Group plc 4imprint Group plc announces today, the sale of its USA based PromotionalProducts Franchise business, Adventures in Advertising (AiA) to The RiversideCompany, a US Private Investment Group. The Transaction Consideration was $11.3m in cash. Costs of executing thetransaction are expected to be around $1.2m. The AiA business is the only Franchise business in the 4imprint Group. It doesnot fit the Group's Strategy, which is to concentrate on its core activities ofproviding products and support services for Corporate and Product Promotions,using its "in house" resources. In the year ending December 31 2004, the AiA business achieved fee income of$8.5m, generating operating profits of $1.8m. The net assets amounted to $5.9m. While the 4imprint Group 2005 Interim Results will be announced on August 32005, the Group confirms in advance of this, that trading conditions in thefirst half of the year have been encouraging and that operating profit beforepension charges will be not less than £3.0m for this first half year. Commenting on the disposal, Ken Minton, Executive Chairman, said "I am pleasedto see the sale of the AiA business to Riverside Company which already has otherfranchise interests in its portfolio. The disposal allows 4imprint Group toconcentrate on its rapidly growing core businesses in both Europe and NorthAmerica, while adding substantially to its cash resources." For further details contact: Ken Minton 0161 786 0424 Gillian Davies 0161 786 0424 This information is provided by RNS The company news service from the London Stock Exchange