M&C Saatchi PLC Divestment of Associates
02 Abril 2024 - 8:24AM
RNS Regulatory News
RNS Number : 0205J
M&C Saatchi PLC
02 April 2024
2 April 2024
M&C SAATCHI PLC
(the "Company" or "M&C
Saatchi")
Divestment of
Associates
The Company announces the divestment of certain
French associate investments in line with its strategy to simplify
its operating structure and improve efficiency across the group.
The associate companies being divested are Cometis, Australie, and
M&C Saatchi Little Stories (together the "French Associate
Investments") which are being acquired by the existing local
leadership team which includes the directors of the French
Associate Investments.
The Company has agreed to dispose of its entire
shareholding in the French Associate Investments for cash
consideration of €1 million. The proceeds of the disposal will be
retained by the group.
In the year ended 31 December 2022, the French
Associate Investments collectively generated a loss of
€279k.
Related party
transaction
The divestment of the French Associate
Investments is considered to be a related party transaction for the
purposes of AIM Rule 13 of the AIM Rules for Companies due to the
acquisition of the Company's interest in the French Associate
Investments being made by directors of the entities. For the
purposes of the AIM Rules for Companies, the directors of M&C
Saatchi, having consulted with the Company's Nominated Adviser,
Liberum Capital Limited, consider the terms of this divestment to
be fair and reasonable so far as its shareholders are
concerned.
|
M&C Saatchi plc
|
+44
(0)20-7543-4500
|
|
Zillah Byng-Thorne, Executive
Chair
Bruce Marson, Chief Financial
Officer
Jill Sherratt, Head of Investor
Relations
|
|
|
Liberum, NOMAD
|
+44
(0)20-3100-2000
|
|
Max Jones, Benjamin Cryer, Will King
|
|
|
Deutsche Numis
|
+44
(0)20-7260-1000
|
|
Nick Westlake, Iqra Amin
|
|
|
Headland Consultancy
|
|
|
Stephen Malthouse, Rob Walker,
Charlie Twigg
|
+44
(0)20-3805-4822
|
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our
Privacy
Policy.
END
MSCEALLAEAALEFA
M&c Saatchi (LSE:SAA)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024
M&c Saatchi (LSE:SAA)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024
