25th November 2006
Cello extends its research and data capabilities
Insight Medical Research Limited (‘Insight’), a subsidiary of Cello Group plc (‘Cello’), the marketing services group, has acquired the business and assets of Field Management Limited (‘FML’), a data collection and market research agency for a total maximum consideration of £865,000 in a mixture of cash and new ordinary shares. FML conduct focus groups, face-to-face and on line/web interviews across a broad range of market sectors.
The initial consideration consists of up to £540,000 of which up to £200,000 will be paid in cash and the balance satisfied by the issue of 287,892 new ordinary shares. In addition, there are further performance related payments in respect of the period to 31 December 2008 of up to £325,000, payable £100,000 in cash and the balance in new ordinary shares.
Application has been made to the London Stock Exchange for the new shares to be admitted to AIM and it is expected that admission will take place by 30 November 2005.