The Mission Marketing Group PLC Acquisition of RJW & Partners (5137D)
April 27 2017 - 2:40AM
UK Regulatory
TIDMTMMG
RNS Number : 5137D
The Mission Marketing Group PLC
27 April 2017
The Mission Marketing Group plc
Acquisition of RJW & Partners
The Mission Marketing Group plc ('the mission(tm) ', "the
Company", AIM: TMMG), the marketing communications and advertising
group, is pleased to announce that it has acquired RJW &
Partners Ltd ('RJW'), a company providing consultancy services to
the pharmaceutical and medical devices industries, working in
pricing, market access and payer communications. Initial
consideration is GBP1.75m for the business and GBP0.23m for cash
balances held. GBP1.88m is payable in cash and GBP0.1m will be
satisfied through the issue of 237,117 new ordinary shares of 10
pence each in the capital of the Company ("Ordinary Shares").
Further consideration of up to GBP4.25m is payable subject to
financial performance in 2017, 2018, 2019, and 2020, of which 5% is
payable in shares and 95% payable in cash.
About RJW
Established in 2008, RJW is a UK-based consultancy with around
30 employees and external consultants who specialise in pricing and
market access strategy, tactics and communications in all major
markets and world regions. The Company works with a wide range of
clients in the pharmaceutical sector, including AstraZeneca, Shire
and Novartis. RJW will operate as part of Mission Healthcare,
adding an important and new global market access capability to the
mission(tm) 's existing skills in medical communications.
In the 12 months to 31 March 2016, RJW had a turnover of GBP1.6
million, profits of GBP0.4 million and at 31 March 2016, had total
assets of GBP0.2 million.
Commenting, David Morgan, Executive Chairman of the mission(tm)
said:
"I am delighted to welcome RJW to the mission(tm) portfolio. The
addition of RJW provides us with a world-class team in the
fast-growing specialism of pricing and market access.
We are confident that the addition of this capability to our
strong marketing communication credentials will provide an
enormously compelling Healthcare offer for existing and new Clients
alike. We look to the future of Mission Healthcare with great
excitement."
Neil Johnson, Director of RJW said:
"We are extremely pleased to be joining the mission(tm)
Healthcare team. We are convinced that in the mission(tm) we have
found the perfect partner with which to grow."
Application has been made for the 237,117 new Ordinary Shares
issued as initial consideration, which will rank pari passu in all
respects with the existing Ordinary Shares of the Company, to be
admitted to trading on AIM, which is expected to be effective from
8.00 am on 4 May 2017. Subsequent to the issue of these new
Ordinary Shares, the total issued share capital of the Company will
be 84,357,351 Ordinary Shares. The Company holds no Ordinary Shares
in treasury. Accordingly, after Admission, the total number of
voting rights in the Company will be 84,357,351.
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
Enquiries:
The Mission Marketing Group
plc 020 7462 1415
David Morgan, Executive Chairman
Peter Fitzwilliam, Finance
Director
finnCap Limited 020 7220 0500
Geoff Nash/James Thompson
(Corporate Finance)
Stephen Norcross (Corporate
Broking)
the mission(tm) is a network of entrepreneurial marketing
communications Agencies employing 1,000 people in the UK, Asia and
US. The Group comprises three divisions: Integrated Generalists,
Sector Specialists and Activity Specialists, which work together to
provide Clients with the expertise and resource to make them more
successful in today's challenging environment.
www.themission.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQGLGDSIXDBGRR
(END) Dow Jones Newswires
April 27, 2017 02:40 ET (06:40 GMT)
The Mission (LSE:TMG)
Historical Stock Chart
From Mar 2024 to Apr 2024
The Mission (LSE:TMG)
Historical Stock Chart
From Apr 2023 to Apr 2024