Tangibal signs binding terms to acquire Shahmoon Ltd a UK Convenience Store Screen Network
(firmenpresse) - Tangibal signs binding terms to acquire Shahmoon Ltd a UK Convenience Store Screen Network
London, 25th March 2013. Tangibal Group Plc is pleased to announce that it has signed a binding Heads of Agreement to acquire Shahmoon and its existing highly visible media network of 75 screens called “Street AD”.
The high bright screens are located in the windows of independent convenience stores mainly in London – full details and images of the screens can be found at www.shahmoon.tv.
Tangibal will acquire 100% of Shahmoon in return for £50,000 of Tangibal shares on completion and a further £50,000 of Tangibal shares in 12 months from completion and at the share price on the day of each closing. The Group’s intention is to expand this network to an initial 500 screens through cash flow generated by the network and eventually we believe the market can sustain up to 1,000 screens across the UK.
The company has researched this media sector and because of the close proximity to point of sale the network is attractive to brands who typically sell their goods in convenience stores. These include many Fast Moving Consumer Goods brands (FMCG) such as Coca Cola and Cadburys, as well as Newspapers and Lottery brands.
Furthermore we are pleased to announce that we are in final negotiations with Boomerang Media (http://www.boomerangmedia.co.uk) who will become our National Media sales partner. Boomerang is the UKs leading lifestyle and youth media Solutions Company with networks in Health Clubs, Cinemas and Universities.
The Group expects this network to deliver around £200 per screen per month in net income to the Group, which at full capacity of 1,000 screens is expected to deliver around £2.4 million of turnover per year.
Dominic Brookman CEO commented, “We are very optimistic about the potential of this new screen media network which we believe will deliver significant revenue and profits to the Group. With a target of 1,000 screens across the UK we believe this network will become a major part of the overall UK outdoor media market. The Outdoor (out of home media market) UK media market has grown to £970 million per annum in 2012 from £836 million in 2011 and Outdoor digital media revenue has seen stronger growth from £138 million in 2011 to £182 million in 2012 (source: Outdoor Media Centre). Tangibal will continue to build on this strategy of earnings enhancing acquisitions to deliver positive shareholder returns.”
For further information please contact:
Tangibal Group PLC
Dominic Brookman
+44 207 754 0459
www.tangibal.com
The directors of Tangibal accept responsibility for the information contained in this announcement relating to Tangibal. To the best of the knowledge and belief of the directors of Tangibal (who have taken all reasonable care to ensure such is the case), the information contained in this announcement is in accordance with the facts and does not affect the import of such information.
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Tangibal Group PLC
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Datum: 25.03.2013 - 09:14 Uhr
Sprache: Deutsch
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