The Mission Group Regulatory News (TMG)

7 Dec 2007 07:00

The Mission Marketing Group PLC07 December 2007 7 December 2007 The Mission Marketing Group plc Extension of banking facilities provides additional financial firepower The Mission Marketing Group plc ("TMMG" or "themission(R)"), the nationalmarketing communications and advertising group, announced today that it hasagreed an additional banking facility of up to £25 million with HSBC. This is inaddition to the Group's existing £25 million RBS facility through a clubbingarrangement between the two Banks. The facility will provide the Group withadditional financial flexibility to continue its growth from £5m turnover to£85m in less than two years. themission(R) has successfully acquired and integrated Bray Leino, April-Six,thinkBDW and Story UK alongside Big Communications and Fuse Digital. The Groupis now able to offer its predominantly national and international clients moreservices in more locations. All acquisition opportunities are evaluated againstthemission's strict criteria: adding high quality, rapidly growing complementarybusinesses that extend the service offering and geographic footprint as well asbeing earnings enhancing in the first full year of ownership. The momentum reported in the September announcement of the Interim Results hascontinued during the second half and current trading remains in line with theBoard's expectations. Commenting on today's announcement Iain Ferguson, CEO, said: "Our strategy of combining above industry organic growth with selectiveacquisitions to create a new national agency group has enabled us to build astrong platform from which to continue our development. Following our recentsuccessful fundraising from the institutional investment community, thefirepower provided by this additional facility will allow us to invest inselective complementary capabilities and expertise that will add value to ourbusiness and in turn our clients and shareholders. We are delighted to have theparticipation of HSBC alongside our existing banking partner, RBS. " Ends Enquiries: Iain Ferguson, Chief Executive 07860 361432Tim Alderson, Chief Financial Officer 07931 546672themission(R) 020 7959 3011 Charles Palmer/Nicola Biles 020 7831 3113Financial Dynamics The Mission Marketing Group themission(R) is a national marketing communications and advertising group with10 offices across the UK. The Group specialises in providing national andinternational clients with award winning marketing, advertising and businesscommunications. Group members include April-Six, Bray Leino, Big Communications,Fuse Digital, thinkBDW and Story UK. themission(R) employs over 550 staffnationally and is listed on AIM (TMMG). This information is provided by RNS The company news service from the London Stock Exchange