The Mission Marketing Group plc, the national marketing communications and advertising group, is pleased to announce the acquisition of Proof Communication Limited by its technology specialist Agency, April-Six Limited.
Proof is an independent science, engineering and technology PR Agency with an office in Central London offering specialist communication services to prestigious Clients including national laboratories, international science facilities, global technology businesses, multinational engineering companies and universities. Proof’s expertise in public relations, and its focus on science and technology, is expected to complement April-Six’s existing global technology marketing specialism, and fits well with the strategy of the missiontm and its portfolio of specialist Agencies. April-Six has offices in London and San Francisco with a wide portfolio of blue-chip technology Clients.
Proof has a profitable and cash generative track record, and the Board of the missiontm expects the Acquisition to make a positive contribution in both the current and next financial year.
The Acquisition is not a substantial acquisition as defined by the AIM Rules for Companies. The consideration for the Acquisition comprises an upfront element payable on completion, with a further deferred contingent payment in 2016 subject to the performance of the business. The vendor management team can elect to receive a proportion of consideration due in new or existing ordinary shares of the missiontm. Cash elements of the consideration will be financed through the missiontm’s cash flows and existing bank facilities. the missiontm will issue 115,347 new Ordinary Shares to satisfy a proportion of the initial consideration.
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