Business
Holding in US Operation
Holding in US Operation.
About this update from Ebiquity Plc
[{"type":"text","content":"\n Thomson Intermedia PLC\n14 September 2007\n\n14 September 2007\n\n\n\nThomson Intermedia plc\n\n\n\nIncreased holding in US operation\n\n\n\nThomson Intermedia plc ('Thomson Intermedia' or the 'Group', AIM: THN), a\nleading provider of media intelligence, has acquired 15.2 per cent. of Media\nPerformance Monitor America ('MPMA'), the Group's US media auditing subsidiary,\nfrom Erwin Ephron, a co-founder of MPMA. The Group bought 79.8 per cent of MPMA\nas part of the billetts acquisition in August 2005. The outstanding 5.0 per\ncent has been retained by PJ Leary, the Chief Executive Officer of MPMA.\n\n\n\nThe consideration is $257,640 in cash, funded from the Group's own resources.\nIn the year to April 2007 MPMA contributed $316,092 of operating profit to the\nGroup. The Group sees considerable opportunities for growth in the US market\nand expects the transaction will be earnings enhancing in the financial year to\n30 April 2008.\n\n\n\nThe proposed acquisition is a related party transaction as defined in the AIM\nRules. The Directors of Thomson Intermedia consider the terms of the transaction\nto be on normal commercial terms and having consulted with Landsbanki Securities\n(UK) Limited, the Group's nominated adviser, consider the terms of the\ntransaction to be fair and reasonable insofar as Thomson's shareholders are\nconcerned.\n\n\nEnquires:\n\n\nThomson Intermedia plc 020 8466 5555\nSarah Jane Thomson - Joint Chief Executive\nMichael Uzielli - Finance Director\n\nLandsbanki Securities (UK) Limited 020 7426 9000\nShaun Dobson/ Fred Ward\n\nCollege Hill 020 7457 2020\nAdrian Duffield\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2058,"tagName":"div"}]