Business
Creston Acquires ICM and TMW
Creston Acquires ICM and TMW.
About this update from Conduit Holdings Ltd.
[{"type":"text","content":"\n Creston PLC\n20 April 2006\n\n\nDate: 20 April 2006\nOn behalf of: Creston Plc (\"Creston\" or \"the Company\")\nEmbargoed until: 0700hrs\n\n\nCreston Plc\n \n• Proposed Acquisition of ICM Research Limited, ICM Direct Limited and\n FieldworkUK.com Limited for a maximum consideration of £37.2 million\n• Proposed Acquisition of Tullo Marshall Warren Limited and Colombus\n Communications Limited for a maximum consideration of £38.3 million\n• Proposed Placing and Open Offer by Charles Stanley Securities of\n 9,132,306 New Ordinary Shares at 165 pence per share to raise approximately\n £15.07 million\n\n\nSUMMARY - This summary should be read in conjunction with the full text of this\nannouncement.\n\nCreston Plc (\"Creston\" or the \"Company\"), the diversified marketing services\ngroup, today announces that the Company has agreed, subject inter alia to\nShareholder approval, the proposed acquisition of the ICM Research Group (\"the\nICM Group\" or \"ICM\"), a leading independent UK full service market research\nagency and Tullo Marshall and Warren Limited (\"TMW\") and Colombus Communications\nLtd (\"Colombus\") the sister agency of TMW (\"TMW Group\"), a leading independent\nUK direct marketing agency and a Placing and Open Offer by Charles Stanley\nSecurities to raise approximately £15.07 million before expenses. The\nhighlights are:\n \n• The ICM Group is one of the UK's leading independent market research\n agencies. It has a diverse range of national and international clients\n including Vodafone, Wanadoo, Norwich Union, NOP, Dixon Store Group, Saga, \n BT Mobile, O2, Orange and Yorkshire Bank. The ICM Group is divided into \n dedicated sector and product teams including Technology, Retail and \n Financial as well as product teams such as Polling, Omnibus and Government \n and Social;\n\n• For the year ended 30 June 2005 ICM's turnover was £14.0 million and pre\n tax profits were £2.48 million;\n\n• Its acquisition enables Creston to offer further quantitative and\n qualitative market research services to existing and potential clients and\n creates critical mass for Creston's Insight Division;\n\n• The TMW Group is one of the largest independent direct marketing agencies\n in the UK. It has a diverse range of national and international clients, \n across a number of sectors that includes British Airway...