ITE Group PLC Completion of Acquisition of Ascential Events (8081U)
17 July 2018 - 4:00PM
UK Regulatory
TIDMITE
RNS Number : 8081U
ITE Group PLC
17 July 2018
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION,
DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED
STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER
JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. PLEASE SEE THE
IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT
ITE Group plc
COMPLETION OF ACQUISITION OF ASCENTIAL EVENTS LIMITED
ITE Group plc ("ITE" or the "Company") is pleased to announce
the completion of the Acquisition of Ascential Events Limited from
Ascential plc based on an enterprise value of GBP300 million
(calculated on a cash-free, debt-free basis and subject to
normalised working capital) following the initial announcement on
15 May 2018.
Commenting on the acquisition, Mark Shashoua, Chief Executive
Officer of ITE, said:
"I am delighted to announce the completion of the acquisition of
the Ascential Exhibitions business. These events, all of which are
market-leading, are well-known to us, and under ITE's ownership we
look forward to treating them as Core, giving them the investment,
management focus and international platform they need to grow. This
highly complementary portfolio of exhibitions will help to propel
us towards our vision of creating the world's leading portfolio of
content-driven, must-attend events that deliver an outstanding
experience and return on investment for our customers. I would like
to formally welcome all of our new employees to ITE as we look to
run the best shows, anywhere in the world."
Capitalised terms not defined herein, are defined at Part XXI of
the combined prospectus and circular published by the Company on 6
June 2018.
Enquiries:
+44 (0) 20 7596
ITE 5000
Mark Shashoua, Chief Executive Officer
Andrew Beach, Chief Financial Officer
Melissa McVeigh, Director of Communications
+44 (0) 20 7597
Investec 5970
(Sponsor, Financial Adviser, Joint Broker, Joint Bookrunner and Lead
Underwriter)
Corporate Finance: Andrew Pinder, Junya Iwamoto,
David Anderson
Corporate Broking: Sara Hale, Chris Sim, Neil Coleman
+44 (0) 20 7260
Numis 1000
(Joint Broker, Joint Bookrunner and Joint Underwriter)
Nick Westlake, Toby Adcock, Hugo Rubinstein
+44 (0) 20 3727
FTI Consulting 1000
(Financial PR)
Charles Palmer, Emma Hall, Harry Staight
IMPORTANT NOTICE
In comparing the events organised by the ITE Group and the
Ascential Exhibitions Group, the Company regards the main
comparators to be the number of exhibitors, number of attendees,
floor space required and/or revenues generated by the event in
question. A "market-leading" or "must-attend" event would, in the
opinion of the Company, be one which was the leader across the most
relevant (to the event concerned) of these comparators.
This announcement does not contain or constitute an offer of, or
the solicitation of an offer to buy, securities to any person in
the United States, Australia, Canada, Japan or South Africa or in
any jurisdiction to whom or in which such offer or solicitation is
unlawful. The securities will not be registered under the US
Securities Act of 1933, as amended (the "Securities Act") or under
any securities laws of any state or other jurisdiction of the
United States, and may not be offered, sold, taken up, exercised,
resold, renounced, or otherwise transferred, directly or
indirectly, in or into the United States except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and in compliance
with any applicable securities laws of any state or other
jurisdiction of the United States. There will be no public offering
of the securities in the United States.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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