R4E.L Regulatory News (R4E)

7 Nov 2005 07:00

For immediate release: 0700hrs Monday 7th November 2005 TRADING UPDATE ON RECENT ACQUISITIONS First Artist Corporation PLC (AIM: FAN), the acquisitive sports andentertainment group, today reports the successful integration of its three mostrecent acquisitions prior to entering its closed period.ABG Financial Management - the profitable FSA registered IFA acquired in August2005 to provide wealth management services to First Artist Management'ssporting and celebrity clients - has already begun to benefit fromcross-trading opportunities within the First Artist Corporation group ofcompanies. It is likewise experiencing an increase in activity as it preparesclients for the introduction of new UK pension legislation on 6th April 2006 -A Day.Finishing Touch, the profitable events management business acquired inSeptember 2005, has likewise won new contracts as a result of introductionsfrom within the First Artist Corporation group.Meanwhile, the Company also confirms that the 20-player roster of Mel Stein'sTeam Sports Management Limited has been successfully integrated into FirstArtist Management's international roster of over 200 players following theacquisition of the business in January 2005. The Company is likewiseprogressing talks with all relevant parties to create the Agents Association toensure that a professional code of conduct is established within the footballindustry.Jon Smith, Chief Executive of First Artist Corporation PLC, commented:"We are pleased to be already experiencing the first fruits of ourdiversification strategy at a time when the football representation divisionhas experienced its best trading performance for some years with the businessexpecting to benefit further from the run-up to the 2006 World Cup. We willcontinue to seek further acquisition opportunities that are relevant to ourgoal of building a balanced, profitable, complementary group of businesses inthe fields of player and artist representation, marketing, event and wealthmanagement."The company expects to announce its preliminary results for year ended 31stOctober 2005 late January 2006.- ends -Notes to EditorsFirst Artist Corporation PLC (AIM: FAN) is a leading sport and entertainmentrepresentation and event management group. With offices in London, Milan, theUSA and Middle East, it provides four distinct services: sports playerrepresentation, celebrity representation, wealth management, and eventmanagement. Its player representation division, First Artist Management ("FAM")is recognised as one of world's leading football management groups.For further information:First Artist Corporation plcJon Smith, Chief Executive Tel. + 44 (0) 20 8900 1818Richard Hughes, Finance DirectorShore Capital Tel: + 44 (0) 20 7408 4090Alex Borrelligth media relationsToby Hall/Jade Mamarbachi Tel: + 44 (0) 20 7153 8039/8035ENDFIRST ARTIST CORPORATION PLC