Acquisition

12 Jul 2006 07:00

Adventis Group PLC12 July 2006 95 Wigmore Street London W1U 1HH Direct Line 020 7034 4750 Fax 020 7034 4701 e-mail : cjphillpot@adventis.co.uk Adventis Group plc ("Adventis" or "the Company") Acquisition of M2 Ltd and trading update Adventis, the specialist multimedia and marketing agency, is pleased to announcethat on July 10th 2006 it acquired the business and goodwill of M2 Ltd. ("M2"),the specialist property advertising agency, for an initial cash consideration of£50,000. Additional deferred payment of up to £326,376, to be satisfied inAdventis shares, will be made to Mark Bastin, founder and MD of M2, splitbetween the financial years of December 31st 2007 and December 31st 2008 on theachievement of certain profit related targets. Adventis, which floated on AIM in July 2004, has been rapidly expanding in itsspecialist sectors of property, healthcare and financial services and thisacquisition will bolster its already significant property services group. M2, which will trade through PMC, is headed by well known property marketing manMark Bastin. Mark has brought with him two key staff members, the team havingpreviously worked together. Mark Bastin said, 'I am delighted to be moving to Adventis as it represents afantastic opportunity for the M2 team. It not only strengthens our offer interms of resources and manpower, but also gives us a lot of opportunity forcross fertilisation within the group. From our point of view it's a perfectfit.' Charles Phillpot, CEO of Adventis added, 'we are all very excited about Markjoining the Adventis team. Since his days at Bastin Day Westley, Mark has a preeminent reputation in the world of property as a leading creative personality.We all very much look forward to working with him and his team.' The former M2 business has already transferred several clients to Adventis suchas Higgins Homes, Argyll Homes and Delph Property Group. Adventis Financial PR signs up clients On June 22nd 2006 Adventis announced that it had formed Adventis Financial PR ("AFPR") headed by veteran Financial PR man Peter Binns, currently 'Financial PRof the Year.' To date AFPR has so far been authorised to act for 24 clients ofthe new venture and the business is set to make a positive contribution to thecompany's results in 2006, as well as continuing to raise it's profile. Adventis still has £1.75m for further acquisitions The Company is also pleased to announce that following a post acquisition reviewof this activity and analysis of final net current asset payments, Adventis hasin excess of £1.75m cash to fund future expansion. 2006 trading continues ahead of 2005 Current trading for 2006 is in line with market expectations and ahead of 2005.The Board remains positive about the Company's prospects for the full year. Enquiries: Charles Phillpot, Managing Director Peter BinnsAdventis Group plc AFPRTel: 020 7034 4750 Tel: 020 7034 4760 John DepasqualeSeymour PierceTel: 020 7107 8010 This information is provided by RNS The company news service from the London Stock Exchange