WFCA Wfca

TIDMWFCA

RNS Number : 3557L

WFCA PLC

29 July 2011

WFCA Plc

("WFCA", "the Company" or "the Group")

ACQUISITION OF WBR

WFCA plc, a leading regional integrated marketing communications agency based in Tunbridge Wells, announces today that it has acquired Williams Blake Reay Limited ('WBR') a specialist healthcare advertising agency also based in Tunbridge Wells. WBR was founded in 1995 and retains a strong market position for the promotion of products and services in all sectors of the healthcare market including prescriptions, over the counter medicines and patient education material. The agency is best known for its work on Sudocrem, the nation's favourite nappy rash cream and the UK launch of Flomax for prostate related conditions. As at 31 December 2010 WBR had net assets of GBP2,868 and declared a fifteen month loss for the year of GBP49,242.

The acquisition involves the payment of an initial consideration of GBP50,000 payable in cash. Deferred consideration, limited to a maximum of GBP450,000, will be payable based on a multiple of two times the average profit after tax for the year ending 30 June 2012 and four times the average profit after tax for the year ending 30 June 2013. 70 per cent of any additional consideration will be payable in cash and 30 per cent in equity. The initial consideration is deductable from any deferred consideration payable.

Bob Morton, Chairman of WFCA stated that he was delighted with the acquisition as it represented a strategic move for the Group outside its traditional heartland of retail and food marketing.

Bill Williams of WBR stated that healthcare continues to be an area of marketing communications that is traditionally growing faster than the overall market and that with the strength of WFCA behind it, WBR would be ideally placed to take advantage of this growth and to expand its opportunities with its current clients in both traditional and new media.

For further information please contact:

WFCA plc

Stephen Latter, Financial Director Tel: 01892 703 201

Daniel Stewart & Company Plc

Oliver Rigby/James Felix Tel: 020 7776 6550

This information is provided by RNS

The company news service from the London Stock Exchange

END

ACQGIGDRLGDBGBC

WFCA Plc (LSE:WFCA)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024

WFCA Plc (LSE:WFCA)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024