LeGuide.com Group : Response to the unsolicited contractual voluntary offer of the Lagardère group for LeGuide.com
(Thomson Reuters ONE) -
Press release
Paris May 10(th) 2012
Response to the unsolicited contractual voluntary offer of the Lagardère group
for LeGuide.com
The Board of Directors of LeGuide.com met on 8 May 2012 to review the terms of a
contractual voluntary offer to purchase the shares of LeGuide.com, initiated by
the Lagardère Company on behalf of and for the account of its Lagardère Active
subsidiary.
The Board of Directors unanimously view this bid as not being in the interests
of LeGuide.com, its shareholders nor its employees, and recommends that
shareholders not tender their shares.
1. LeGuide.com is able to continue to develop independently, as it has already
done successfully:
* LeGuide.com is currently the top shopping guide in Europe with 28.9
million unique visitors* in 14 countries, including 8.8 million in
France in March 2012* (not including distribution partnerships).
* The company has a solid track-record with an operating margin
historically secured above 30%.
* LeGuide.com has managed to adapt to market trends and in the first
quarter of 2012, in a profoundly modified competitive environment,
managed 16% organic growth, while keeping its operating margin high***.
* The company has established a European leader by combining organic and
external growth and now has the means to take part in market
consolidation.
* Its independence has given it the responsiveness and flexibility that
are essential in the constantly changing world of the Internet.
2. The models of LeGuide.com and Lagardère Active are structurally different
and offer few synergies:
* LeGuide.com's business is in digital intermediation, which is constantly
changing and quite different from that of a content publisher.
* LeGuide.com is a pure player and a leader in France, Spain, Italy, and
in Europe at large, which must continue to consolidate its development
in Europe, particularly its technological development.
3. The price offered does not reflect the company's intrinsic value, nor its
prospects:
* LeGuide.com's activity operates a high-performance and profitable click-
based business model.
* LeGuide.com has very significant cash holdings (?32.1m at 31 December
2011 and ?18m estimated after the Ciao deal***).
* LeGuide.com combines steady growth, very high operating margins, and a
strong capacity to finance its growth on a standalone basis.
* The March 2012 Ciao acquisition offers true development prospects by
giving LeGuide.com a unique position in Europe as the leader in
shopping guides. Ciao, which will be consolidated as of the second
quarter, is expected to generate ?12m to ?14m in additional revenue in
2012 (over nine months).
Le Guide.com is able to leverage its many assets and sustain in the long term
its position as the independent leader of shopping guides in Europe.
About LeGuide.com Group
LeGuide.com Group, an operator of online shopping guides, comparison websites,
shopping search engines and platforms for consumer ratings, reached a total
audience of 28.9 Million Unique Visitors*, including 8.8 in France* and 1.5
million on mobile**. With a team of 171 employees, LeGuide.com operates in 14
European countries through a multi-site strategy surrounding a brand portfolio,
including LeGuide.com, Ciao, dooyoo.com and mercamania.com. The group lists 161
million offers from 76 200 e-merchants and has generated ?28.2 million in
revenue in its 2011 financial year. LeGuide.com has been certified as an
"Innovative company" by OSEO (a French public agency that supports SMEs) and is
listed on the Alternext board of NYSE Euronext Paris (ticker: ALGUI; ISIN code:
FR0010146092).
*Source: Comscore, March 2012
**Source Médiamétrie/NielsenNetratings, February 2012
*** Unaudited figures
LeGuide.com
Olivia Fuchs Anaïs de Scitivaux
+33 1 55 43 37 29 +33 1 56 88 11 14
finance(at)LeGuide.com adescitivaux(at)actifin.fr
For more information: www.LeGuide.com/finance
Response of LeGuide.com to Lagardere offer:
http://hugin.info/151397/R/1611231/512399.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: LeGuide.com Group via Thomson Reuters ONE
[HUG#1611231]
Unternehmensinformation / Kurzprofil:
Datum: 10.05.2012 - 23:07 Uhr
Sprache: Deutsch
News-ID 145408
Anzahl Zeichen: 5796
contact information:
Town:
Paris
Kategorie:
Business News
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"LeGuide.com Group : Response to the unsolicited contractual voluntary offer of the Lagardère group for LeGuide.com"
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