This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
GlobalData Plc
Possible Acquisition
The board of directors ("Board" or "Directors") of GlobalData Plc (AIM:DATA) ("GlobaData", the "Company" and, together with its subsidiary undertakings, the "Group") announces that the Company is in advanced discussions concerning the possible acquisition of Energy, Construction and Financial Services data and analytics companies, Research Views Limited, Progressive Ventures Limited, Progressive Media Ventures Limited and their respective subsidiaries (together the "Target Group"), private companies owned by Mike Danson (CEO, GlobalData) and a number of other minority shareholders including Wayne Lloyd (Managing Director, GlobalData US) (the "Vendors") (the "Acquisition"). It is envisaged that the Target Group will be re-organised prior to completion of the Acquisition to form a single group owned by Research Views Limited.
It is currently expected that the consideration for the Acquisition is to be satisfied through the issue of approximately 18 million new ordinary shares in the Company to the Vendors, representing approximately 17.6% of the Company's current issued share capital. The Board intends that appropriate lock-in and orderly market arrangements will be put in place.
In the year to 31 December 2017, the Target Group generated pro forma revenues of approximately £27.0m.
The Directors believe the Acquisition will further advance the Company's transformation into a global data and analytics company with a truly differentiated multi-industry offering, significantly increasing its addressable market. It will add the Energy industry and strengthen the recently acquired Construction business. It will provide complementary intelligence assets and capabilities relevant to existing Healthcare and Financial Services industries.
The Acquisition is commercially aligned to the Group's primarily subscription based model and is operationally complementary especially in the context of the Group's existing analyst and client service operations. Following the Acquisition the Group addresses at least 8 major global industries with a global expert community operating in 23 offices worldwide.
The Acquisition is expected to be earnings accretive in the first full year of ownership.
If final terms are agreed between the respective parties together with satisfactory due-diligence, the Acquisition will require the approval of GlobalData's shareholders at a general meeting.
In addition, the Acquisition would constitute a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies, and the Company's independent directors would, amongst other things, be required to confirm that the terms of the proposals are fair and reasonable insofar as GlobalData's shareholders are concerned.
The Acquisition remains subject to binding legal agreements and there can be no certainty that these discussions will lead to a transaction.
Further announcements will be made at the appropriate time.
GlobalData Plc Bernard Cragg, Executive Chairman Graham Lilley, Chief Financial Officer |
0207 936 6400 |
N+1 Singer James Maxwell James White |
0207 496 3000 |
Hudson Sandler Nick Lyon |
0207 796 4133 |
