Acquisition

3 Apr 2008 16:50

Chime Communications PLC03 April 2008 03 April 2008 CHIME COMMUNICATIONS plc ('Chime' or 'the Company') Acquisition Chime announces today the acquisition of Bankbrae Holdings Limited ('Bankbrae'),a company based in Glasgow. The initial consideration of £200,000 is to be satisfied in cash uponcompletion. Deferred consideration is payable based on the accounts ofBankbrae's wholly owned subsidiary, The Sports Business Limited, for the fouryears to 31 December 2011. The maximum deferred consideration payable is£2,300,000, payable 50% in cash and 50% in Chime shares. -ends- For further information, please contact: Lord Bell, ChairmanChime Communications plc Tel: 020 7861 8515 Mark Smith, Finance DirectorChime Communications plc Tel: 020 7861 8515 This information is provided by RNS The company news service from the London Stock Exchange