MGP.L Regulatory News (MGP)

14 Jun 2005 10:00

Mercury Group PLC14 June 2005 Embargoed for release at 10.00 a.m. on 14 June 2005 Mercury Group Plc AGM Statement and Placing I am pleased to confirm that your board is making very good progress inestablishing Mercury's position in the Property Services Sector. We have secured a number of strategic investors who are committed to assistingyour board as we implement our strategy of building a group capable of providinga wide range of professional services to the real estate industry. As shareholders are aware, we have completed the acquisitions of Navitas Hemway,TelCo Solutions and Smith Melzack Pepper Angliss. These form the foundationstones of our business and I am pleased to report that all three acquisitionsare integrating well and the cross-selling opportunities we envisaged are nowbeginning to bear fruit. In addition, I am delighted to highlight NavitasHemway's recent success in winning the Sentinel Business Customer Care andService Award. We expect to continue to make good progress in accelerating the growth of eachsubsidiary this year and we are also actively examining other acquisitionopportunities which will bring complementary skills and services to the group. Whilst we allowed the option on Lee Baron Group Limited to lapse, we are workingclosely together on a number of projects and our discussions remain ongoing. The board remains confident of prospects for future growth and I look forward toupdating shareholders on our progress in due course. I am also pleased to announce that the Company has today raised £350,000 from anexisting shareholder of the Company by the issue of 87,500,000 new OrdinaryShares at a price of 0.4p per share. The new Ordinary Shares will rank paripassu in all respects with the existing issued share capital in the Company.Application has been made for the new Ordinary Shares to be admitted to tradingon AIM. It is anticipated that Admission will become effective on 20 June 2005. Enquiries: David Williams Chairman, Mercury Group Plc 07885 475329Kate Tzouliadis Biddicks 020 7448 1000 This information is provided by RNS The company news service from the London Stock Exchange