LONDON (ShareCast) - Online direct marketing group TMN has agreed to buy its Dutch rival TAPPS for up to £7.94m.
The initial consideration of £5.70m comprises a cash consideration of £3.91m and a share consideration of £1.79m.
The cash consideration will be met from existing resources and new facilities entered into with Barclays, while the share consideration will be satisfied through the issue of 3.79m new shares.
Specialist UK insurer LitComp expects full-year results to be in line with market expectations.
Elite, the group’s Gibraltar-based after the event insurer, has written its largest ever ATE policy. This was referred by the leading European litigation funding provider with whom it started working in November.
”We are delighted with the successful progress of Elite Insurance and we are working hard to ensure this continues into 2008,” said chief executive Jason Smart. “Furthermore, Medico-legal nominations and sales continue to improve month on month,” he added.
AIM-listed 2ergo has won a five year contract with O2 for the provision of mobile marketing services.
The group said the service and hosting fees secured under this agreement further underpin the board's expectations for the year.
“The board anticipates that the agreement will also generate additional transaction-based fees, the timing and scale of which will become clear as the relationship with O2 develops over time,” said chief executive Neale Graham.
Russia-focused oil group Timan has received a winding up order over an unpaid debt of £93,000. A petition to wind up the company was presented on 29 November 2007 by Oilfield Production Consultants (OPC) Limited.
In a statement, Timan said its directors have been in discussions with OPC and have agreed with them that the company will pay all outstanding debts to OPC in full upon dismissal of the petition.
An application is being made to expedite the hearing, currently scheduled for 2 April, and an application is being made for dismissal of the petition.
Telecoms group Thus has signed a contract with Hanover Housing Association to supply a fully managed next-generation communication network.
Thus did not comment on any financial details of the agreement but said it will link the retirement housing provider’s head office and local offices to housing estates across the country.
Agricultural supplies group Wynnstay has bought North-West based distributor John Hatton for £237,000 plus a further £100,00 for stock.
"We continue to act as a consolidator within the agricultural sector and the acquisition of John Hatton is in line with this strategy. The business represents a highly attractive complementary fit with our existing activities, strengthening our presence in this important livestock region," managing director, Bernard Harris said.
Shares in NextGen were in demand after the gene-to-protein products provider announced it has entered into a commercial alliance with US-based contract research firm Paragon Bioservices.
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