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TLA Worldwide

  • BY: Andrew Hore |
  • POSTED: 17/10/2012 |

TLA Worldwide is acquiring Peter E Greenberg and Associates which will make it the largest agent of baseball players.

TLA will increase its baseball clients by 63 to 166. Greenberg specialises in Latin American baseball players and it will increase group contracted revenues by $6m. The deal will also increase YLA’s exposure to Japanese baseball.

The acquisition made a small loss on revenues of $4.02m in 2011. The loss was down to the management taking out large amounts of money. Their remuneration under TLA’s ownership would have generated a profit of $1.36m in 2011. However, two important players have retired since then.

TLA is paying an initial $3.06m (£1.91m) in cash and $1.31m (£815,000) in shares at a nominal price of 24.5p. A further $165,000 will be payable at the end of July. Up to $7.07m (£4.39m) will be payable depending on operating profit achieved in each of the next five years.

At 24.5p a share, TLA is valued at £14.7m. TLA joined AIM at 20p a share at the end of 2011. A placing at 23p a share will raise a further £2.5m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFOctober2012_37.pdf

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