News blog
Freshwater UK
- BY: Andrew Hore |
- POSTED: 02/11/2007 |
PR firm Freshwater UK is making its first acquisition since joining Aim in July.
Leeds-based Lynx Public Relations specialises in community relations and crisis management. It focuses on the utilities sector and customers include National Grid and Yorkshire Electricity.
Freshwater will pay up to £1.25m for Lynx. The initial payment is £450,000 made up of £350,000 in cash and nearly 110,000 shares at 91p each – the average price over the previous month. The market price is 85p. There will also be a £150,000 payment for Lynx’s assets.
The rest of the payment – of up to £650,000 - is dependent on performance in the 12 months after acquisition. Up to £240,000 of the payment will be in cash and the rest in shares.
Lynx made profits of £110,000 on sales of £510,000 in the year to September 2006. Sales were £480,000 in the following 11 months.
Freshwater will report its maiden full year figures on 3 December.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|