Key Developments: Chime Communications PLC (CHW.L)
255.00GBp
24 May 2013
-2.00p (-0.78%)
257.00p
253.25p
257.00p
253.25p
48,810
122,664
272.00p
145.70p
Latest Key Developments (Source: Significant Developments)
Chime Communications PLC Announces Acquisitions
Chime Communications PLC announced that the acquisitions of People Marketing UK Limited (PMUK), a sports marketing and communications agency based in Shanghai and WARL Group Limited (WARL), a London based specialist 'shopper marketing' agency. The Company has acquired 100% of the share capital of PMUK (which includes its wholly-owned subsidiary People Marketing Sport and Entertainment Hong Kong Limited (PMHK) from its founder Ms Irene Cheung. PMUK is a sports marketing and communications agency based in Shanghai. Ms Irene Cheung is a renowned business figure in the region and has operated at a senior level throughout South East Asia for many years. Initial consideration for the acquisition is HKD128 million (GBP10.8 million). Of this sum 20% has been paid in cash with the remaining 80% being paid once the WFOE is established and trading. HKD89.6 million (GBP7.5 million) of this will be paid in cash and the remaining HKD12.8 million (GBP1.1 million) will be financed through the issue of new Chime ordinary shares to Ms Irene Cheung. The Company also announced that Chime has agreed to acquire WARL from its three shareholders, Marcus Wilcox, Kerry Bateman and Brian Lloyd. WARL brings specialist retail and shopper skills to the VCCP Partnership.Initial consideration is GBP4.5 million of which 30% will be funded by the issue of 521,062 new Chime ordinary shares. Further deferred consideration may become payable over the period to 2018 depending on the performance of the business. Full Article
Chime Communications PLC Proposes Final Dividend
Chime Communications PLC announced that the Board proposed a final dividend of 5.14p per share (2011: 4.50p per share). This will be payable on June 14, 2013 to shareholders on the register at May 24, 2013. The ex-dividend date is May 22, 2013. Full Article
Chime Communications PLC Acquires 93% Stake in Complete Leisure Group Limited
Chime Communications PLC (Chime) announced with regard to entering into an option agreement with Lord Coe whereby on exercise of the option it would acquire Lord Coe's 93% interest in Complete Leisure Group Limited (CLG), that option has been exercised and the acquisition has been completed. On completion Chime paid an initial GBP 1.96 million in cash (an increase from the GBP 1.5 million referred to in the announcement dated October 26, 2012 reflecting the level of net assets on closing). In addition deferred consideration capped at GBP 10.2 million is payable over the period to March 2017 on the achievement of various financial targets. Full Article
Chime Communications PLC Enters Into Option Agreement With Lord Coe To Acquire 39% Interest In Complete Leisure Group Limited
Chime Communications PLC announced it has entered into an option agreement with Lord Coe whereby on exercise of the option it would acquire Lord Coe's 93% interest in Complete Leisure Group Limited. Financial terms were not disclosed. Full Article
Chime Communications PLC Acquires pH Associates Limited
Chime Communications PLC announced that it has entered into an agreement to acquire 100% of the share capital of pH Associates Limited (PHA), company providing market access and data to the pharmaceutical industry, for an initial consideration of GBP6.92 million. The initial consideration comprises GBP6.07 million in cash, and GBP0.85 million in cash representing working capital of PHA at acquisition that is surplus to requirements after PHA joins the group. Chime is acquiring the business from PHA's two owner Directors; Kate Peperell and Lesley Howell. Following completion, Kate and Lesley will continue to develop PHA as part of Chime's healthcare division, OPEN Health. Further tranches of deferred contingent consideration totalling a maximum of approximately GBP14 million, may be payable depending upon the future trading performance of PHA. Three such tranches may be payable, in 2013, 2014, and 2016. In the case of 2014 and 2016, at Chime's option up to 20% of the deferred consideration may be satisfied through the issue of new Chime ordinary shares. Full Article
Chime Communications PLC Declares Interim Dividend
Chime Communications PLC announced that the board has declared an interim dividend of 2.10p per share (2011: 2.08p per share). The interim dividend will be payable on October 12, 2012 to shareholders on the register at September 21, 2012. The ex-dividend date is September 19, 2012. Full Article
Chime Communications PLC Announces Acquisition Of 20% Minority Interest In VCCP Search Limited
Chime Communications PLC announced it has entered into an agreement to acquire the remaining 20% of the share capital of VCCP Search Limited which it does not own. VCCP Search develops software to support search engine marketing. The consideration for the acquisition of the 20% interest comprises an initial GBP1.3 million in cash and further performance related payments subject to a maximum of GBP6.7 million in cash. Chime is acquiring the 20% interest in the business from VCCP Search's two founders - Paul Mead and David Midgley. Full Article
Chime Communications PLC Completes Disposal Of Bell Pottinger Businesses To BPP Communications Ltd.; Appoints Rodger Hughes As Chairman
Chime Communications PLC announced that the sale of the Bell Pottinger Businesses to BPP Communications Ltd. as approved by shareholders on June 18, 2012 has been completed. As set out in the Circular to shareholders and on completion Lord Bell and Piers Pottinger have resigned as Directors of the Company. Rodger Hughes, the senior Non-Executive Director has been appointed as Chairman whilst the search for a new Non-Executive Chairman takes place. Full Article
Chime Communications PLC Announces Proposal to Sell Its Bell Pottinger Businesses
Chime Communications PLC announced that it will propose, at its General Meeting on June 18, 2012, to sell its Bell Pottinger Businesses to BPP Communications. Full Article
Chime Communications PLC Announces Completion of iLUKA Acquisition
Chime Communications PLC announced that with reference to the announcement on March 7, it had entered into a conditional agreement to acquire iLUKA Limited. The conditions in the agreement have been satisfied and completion has taken place. Accordingly 555,357 new Chime ordinary shares have been issued to the iLUKA vendors. It is expected that dealings in the new ordinary shares will commence on April 12. Full Article
BRIEF-Chime Communications acquires People Marketing, WARL Group
LONDON, May 15 - Chime Communications PLC : * Acquisitions of people marketing UK limited and warl group limited * Initial consideration for people marketing sport is £10.8 million * Initial consideration for warl deal is £4.5 million
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