Cornish Metals Regulatory News (TIN)

4 May 2007 07:00

Tinopolis PLC04 May 2007 Tinopolis PLC4 May 2007 TINOPOLIS PLC ("TINOPOLIS" OR THE "GROUP") ACQUISITION OF VIDEO ARTS GROUP LIMITED Tinopolis, the AIM listed television and new media producer, is pleased toannounce that it has reached agreement to acquire the entire issued sharecapital of Video Arts Group Limited ("Video Arts") for considerationof £2.4 million on a debt free basis, payable in cash. The cash consideration will be met from the Group's existing cash balances. Video Arts was established in 1972 by a small group of television professionals,including John Cleese, who pioneered the use of humour in training. For over 30years it has been producing training videos and DVDs that have entertained andeducated hundreds of thousands of employees, in organisations all over theworld. Their success is based on the belief that for learning material to work,it has to be entertaining. If it's entertaining, it will also be engaging. Andthe more engaging it is, the more memorable it becomes. Video Arts has over 200current titles that have been used to provide training to over 100,000organisations world-wide, winning over 200 major training awards. Recently, ithas launched its Digital Content Library. This currently includes over 100 oftheir most popular titles, divided into hundreds of learning chapters. Thisextension of choice and flexibility better reflects the needs of trainingproviders in this digital age. In the year ended 31 December 2006 Video Arts generated turnover of £4.9 millionand EBITDA adjusted for non recurring management charges of £671,000.Martin Addison, Managing Director of Video Arts commented, "The future for Video Arts is to continue our strategy of building our Digital Content Library. Digital delivery is increasingly what our customers want and the strong library is particularly suited to this need. Tinopolis' experience in on-line education and training will help us to implement this strategy. We believe that by combining forces with Tinopolis we will be better positioned than ever to deliver our products to customers in the UK and internationally." Ron Jones, Tinopolis Executive Chairman said, "Buying Video Arts is in line with our stated acquisition strategy of looking for companies that provide value for our shareholders and extend our presence in our major markets. This acquisition moves our existing education and training business in Tinopolis Interactive into a new sector in that industry. Video Arts with its large and respected library and over 14,000 established customers, combined with our existing new media and e-learning expertise consolidates our position as a leading player in this industry. We are very excited about the potential for us to work together to build the business." For further information, please contact: Ron Jones Arwel ReesExecutive Chairman Managing DirectorTinopolis plc Tel: 01554 880880 Mantra Public Relations 020 7438 4910Lawrence Dore / Nick Bishop,ldore@mantra-pr.com / nbishop@mantra-pr.com Notes to editors:Tinopolis plc The Tinopolis Group is one of the United Kingdom's leading independent television production companies. Established in 1989 and based in Llanelli, thecompany in January 2006 completed the acquisition of The Television Corporation,owners of leading producers Sunset + Vine and Mentorn. Tinopolis is now rankedas Britain's sixth largest independent television producer. Tinopolis is alsoone of Britain's leading new media producers. The company produces a range ofinteractive, training and education materials for clients including the Ministryof Defence, the University for Industry, the WDA, Scottish Enterprise and theBBC in addition to other government and public authorities in the UK andcorporate organisations worldwide. This information is provided by RNS The company news service from the London Stock Exchange