News blog

Boomerang Plus

  • BY: Andrew Hore |
  • POSTED: 04/07/2012 |

TV programme producer and services provider Boomerang Plus is being acquired by its management for 77p a share, although this values the company at less than 10 times prospective earnings.

The bid price is 51% above the previous day’s closing price. In November 2007, the flotation price was 158p a share.

Boom Pictures, which is backed by Lloyds Development Capital (LDC), will pay £7.1m for the Wales-based TV company and it already has acceptances for 80.9% of the company‘s share capital. Lorraine Heggessey is joining the management team and will have a 13.9% stake in Boom Pictures. She is a former controller of BBC One and boss of Talkback Thames.

LDC is investing £200m in the TV sector over two years. Boomerang Plus has been a consolidator in the sector and the additional backing will make it easier to finance larger deals.

Revenues dipped slightly from £16.3m to £16m in the six months to November 2011 due to lower spending by S4C. Net cash was £2.96m at the end of November 2011 but there was also £628,000 of potential deferred consideration. House broker finnCap had forecast a 2011-12 profit of £1.1m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2012_33.pdf

© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds