Creston PLC
05 July 2004
CRESTON PLC
5 JULY 2004
Creston Plc
Deferred Consideration
The Board is pleased to announce that pursuant to the agreement with the vendors
of The Real Adventure Marketing Communications Limited("TRA"), as set out in the
circular to shareholders dated 9 November 2001, the deferred consideration has
become payable as the earn out, as envisaged by that agreement have been
achieved.
The deferred consideration of £2,424,967 will be payable as to £1,013,055 in
cash and loan notes and £1,411,912 payable by the issue of 935,030 ordinary
shares in the Company.
Application has been made to the UK Listing Authority for 935,030 ordinary
shares of 10p each in the capital of Creston plc to be admitted to trading on
the London Stock Exchange's market for listed securities.
It is expected that admission will take place and dealings will commence in such
new ordinary shares on the 8 July 2004. Following admission of the 935,030
ordinary shares, the issued share capital of the Company will be 23,000,168
ordinary shares of 10p each.
Commenting on this achievement, Don Elgie Chief Executive of the Company said:
"We are delighted that TRA has met the targets that we originally set and
anticipated at the time of the acquisition. TRA has been fully integrated into
the Group and the Board are confident that along with the recent new work that
has been won, prospects for TRA are promising."
Enquiries:
Tim Alderson Creston Plc, Finance Director 020 7930 9757
This information is provided by RNS
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