Business
Placing and Acquisitions
Placing and Acquisitions.
About this update from Yougov Plc
[{"type":"text","content":"\n YouGov PLC\n07 August 2007\n\n\n7 August 2007\n\n £27 MILLION PLACING AND ISSUE OF £10 MILLION SHARES TO SUPPORT SIGNIFICANT \n INTERNATIONAL EXPANSION \n\n \n * Three acquisitions expand YouGov's market research presence in US, Germany\n and the Nordic region\n\n * Complementary market research activities will strengthen YouGov's\n expertise in certain target sectors, expand YouGov's client base and\n accelerate organic growth\n\n * Acquisitions to be structured with a mixture of both cash and share\n consideration\n\n * £27 million institutional placing underwritten by Numis Securities Ltd.\n ('Placing')\n\n * YouGov trading in line with market expectations\n\n\nYouGov plc, the online market research agency, announced today that it proposes\nto raise approximately £27 million (£24.5million net of expenses) by means of a\nplacing for cash of 19,285,714 new ordinary shares of 0.2 pence each in the\ncapital of YouGov (the 'Ordinary Shares') to institutional investors ('Placing\nShares') at 140 pence per Ordinary Share (the 'Placing Price'), which has been\nfully underwritten by Numis Securities Ltd, and to issue Ordinary shares\n('Acquisition Shares') in connection with acquisitions and to grant options over\nthe Ordinary shares ('Option Shares') in connection with an acquisition to an\naggregate value of £11.3 million in connection with the purchase of three\ncompanies (the 'Acquisitions'). Each of the psychonomics and Zapera Acquisition\nagreements contain earn-out provisions which, if met, will require YouGov to pay\nan estimated amount of £6.5 million by way of further consideration.\n \n\nThe acquisition of Polimetrix in the USA, in which YouGov already holds a 32%\nstake, of Zapera in the Nordic region and of psychonomics in Germany (announced\non 27 July) will:\n\n\n - provide YouGov with an enhanced global presence and establish key\n geographic hubs;\n\n - add expertise in certain YouGov target sectors in which the \n acquired businesses operate, being: brand research, financial \n services, FMCG, healthcare, insurance, political and social and \n organisational consulting;\n\n - result in an expanded client base; and\n\n - provide an enlarged platform from which to accelerate YouGov's\n organic expansion.\n\nApproximately £21.7 million of the proceeds of the Placing is to be used to\nsatisfy the cash consider...