Macromac PLC Completion of Acquisiton of Smile Interactive (8017S)
29 Septembre 2014 - 8:01AM
UK Regulatory
TIDMMACC
RNS Number : 8017S
Macromac PLC
29 September 2014
29 September 2014
Macromac plc
("Macromac", "the Company" or "the Group")
Completion of acquisition of Smile Interactive Co., Ltd,
Thailand
The Board of Macromac (AIM: MACC) is pleased to announce the
completion of the acquisition of Smile Interactive Co., Ltd
("Smile"), having paid the cash consideration of Baht 10 million
(equivalent to approximately GBP0.19 million) to the shareholders
of Smile. The balance of the consideration due for the Acquisition
is up to Baht 100 million (equivalent to approximately GBP1.9
million) on a deferred consideration basis and will be settled via
the issue of up to 4,409,000 new ordinary shares in the Company
over a five year period, based on Smile's audited profit after tax
over the period from 1 January 2014 to 31 December 2018. Full
details on the calculation of the issue of the Consideration Shares
to Smile is contained in the Company's announcement of the
Acquisition on 3 June 2014.
Smile, based in Bangkok Thailand, is a private limited company
with its main business being the ownership and operation of a
mobile content Gateway in Thailand, which provides its customers
with digital marketing solutions across mobile phone networks. For
the year ended 31 December 2013, revenue was Baht 145.38 million
(equivalent to approximately GBP2.76 million) producing profit
before tax of Baht 15.18 million (equivalent to approximately
GBP0.29 million). Net assets as at 31 December 2013 amounted to
Baht 12.81 million (equivalent to approximately GBP0.24 million).
Following the completion of the acquisition, Eakapol Tangpaosak,
the current founder and Managing Director of Smile, has been
appointed as the Chief Executive Officer of Smile, to spearhead
Smile's expansion and growth prospects.
Michael Lew, Executive President of Macromac, commented:
"We are excited to welcome the team of Smile into the Macromac
group and we look forward to working together towards expanding the
business further, particularly in Thailand. This acquisition is
expected to contribute to both the top-line and bottom-line of
Macromac over the coming years."
All defined terms used in this announcement shall have the same
meaning as defined in the Company's announcement on 3 June 2014,
unless otherwise defined herein.
For further information please visit www.macromacgroup.com or
contact:
Macromac PLC +603 7784 9488
Michael Lew, Executive President
Andrew Khoo, Chief Executive Officer
KC Chong, Finance Director
Allenby Capital Limited (Nominated Adviser and Broker) +44 (0)20
3328 5656
Nick Athanas
James Reeve
Leander (Financial PR) +44 (0)7795 168 157
Christian Taylor-Wilkinson
* all GBP equivalent calculations are based on an illustrative
Baht/GBP exchange rate of 0.01899 as at 25 September 2014
About Macromac
Macromac is a group of companies headquartered in Malaysia
comprising three divisions. The Company aims to deliver mobile
content and web-based marketing solutions to its customers across
South East Asia. Through its proprietary MMP, the Company provides
Premium and Bulk Mobile Messaging solutions for corporate and
advertising campaigns, allowing its clients to better reach their
customers by delivering targeted mobile messaging. The Company also
develops project-based customised software solutions for its SME
clients. The Company also offers Search Engine Optimisation (SEO)
and web development services, both intended to increase the
marketing reach and brand recognition of its clients' services and
products.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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