TG21 Plc - a new name to go with the new beginning

Nod, there may be valid reasons for TGP to hold off acquiring all of 21st Century in 2005, and to wait until 2006.

The accounting rules would change quite a bit for an associate versus a fully owned subsidary. Having 21st C as a separate co. might allow TGP to post better results/balance sheet for year-end 2005. In 2006 I am hoping that 21st C's business is booming and that completion of the acquistion will not impact the balance sheet as much.

Also, the Daniel Stewart write-up mentioned that TGP were waiting for a £3m payment to come in, and they weren't sure whether it would be received by Dec or early next year. It might be better for TGP to wait until the money has been received before making any major commitments.