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Expomedia - Telegraaf takes 10% stake

July 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • EXP
  • Price:
  • 142p
Dutch newspaper publisher Telegraaf Media has taken a 10% stake in Expomedia by subscribing for 4.53m new shares at 145p which will raise £6.5m. Expomedia has already jointly launched a number of consumer and trade exhibitions in Holland as well as the newly opened EXPO XXI Amsterdam venue and the Telegraaf’s investment further cements the relationship. The placing proceeds will be used to fund the expansion programme in India and Russia. There is little impact from the deal in the short term with Charles Stanley forecasting EBITDA of Eu1.5m and a pretax profit of Eu0.3m for the year. For next year, the target is EBITDA of Eu6.1m, a pretax profits of Eu5.2m and adjusted EPS of 6.6c. Hold for ...

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