SMG ACQUIRES OUTDOOR ADVERTISING BUSINESS

SCOTTISH Media Group (SMG) have announced today that their subsidiary, Primesight, acquired Town & District Posters, an outdoor advertising business, on November 30. Primesight is part of SMG’s Out of Home division which combines outdoor advertising and cinema interests.
Naren Patel, Managing Director of Primesight said: “Town & District Posters gives Primesight a strategic entry point into the London 48 sheet market. We intend to use this small but significant base to grow our outdoor advertising business organically and through further selective acquisitions.”
An initial consideration of £350,000 was satisfied by the issue of 229,509 ordinary shares of 2.5 pence each in SMG. An additional consideration of up to £250,000 may become payable, which would also be satisfied by the issue of ordinary shares in SMG. (CD)