Tarsus Regulatory News (TRS)

5 Sep 2007 07:00

Tarsus Group PLC05 September 2007 TARSUS GROUP PLC ACQUISITION 5 September 2007 Tarsus Group plc, the international business-to-business media group withinterests in exhibitions, conferences, publishing and online media, has todayannounced the acquisition of SEPIC SAS from the Federation Francaise de laChaussure for a cash consideration of €13.5million (approximately £9.1million).Tarsus has agreed to sell certain assets - predominantly a freehold property -simultaneously back to the vendors for a cash consideration of €4.2million(approximately £2.8million). SEPIC owns and operates the Mod'Amont and Midec exhibitions in Paris. Mod'Amontis the leading international exhibition for clothing accessories. It is heldeach February and September and is co-located with the leading internationaltextile exhibition, PremierVision. Midec, is the leading French shoe exhibitionand is also held in February and September each year in Paris. In the year to 31 December 2006, SEPIC had unaudited revenues of €8,150,000(£5,433,000) and a loss before tax of €242,000 (£161,000). Gross assets of SEPICare €7.9million (£5.3million). SEPIC will become part of Tarsus's growing Frenchportfolio and will benefit from both better marketing and sales efficiencies aspart of the larger group. As a result, the directors of Tarsus anticipate thatthe acquisition will be earnings enhancing in the year to 31 December 2008. Douglas Emslie, Group Managing Director of Tarsus, said: "This acquisition is afurther step forward in our strategy to increase the scale and broaden thesector coverage of our French business. These exhibitions will add a furtherannual 20,000 net square metres of space sales annually to our French portfolioand we expect to substantially grow the profitability of the business throughenhanced sales and operational efficiencies in 2008". For further information, please contact: Tarsus Group plc:Douglas Emslie, Group Managing Director: 020 8846 2700 Media:Matthew Moth, Madano Partnership: 020 7593 4000 Investors/Analysts:Neville Harris, IRfocus: 020 7593 4215 This information is provided by RNS The company news service from the London Stock Exchange