Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

MACRO METALS LIMITED M&A Activity 2007

Nov 29, 2007

65283_rns_2007-11-29_55a41011-71db-4706-8d0f-c5d8c5f6ee17.pdf

M&A Activity

Open in viewer

Opens in your device viewer

==> picture [596 x 97] intentionally omitted <==

BRT RELEASE

PROPOSED ACQUISITION OF UK TOY AND MODEL DISTRIBUTION BUSINESS

Brainytoys Limited (“BRT”) has entered into a Heads of Terms agreement to acquire a well established UK-based independent importer and distributor company (“UKC”) operating in the toy and hobby sector, with a strong market presence and a diverse valuable customer base.

BRT is restricted by vendor imposed confidentiality provisions from disclosing the name and description of the business until the proposed legal completion date of 29 February 2008. Notwithstanding the fact that the Heads of Terms does not constitute a legally binding agreement and pursuant to an Exclusivity Agreement, by the payment of an initial option fee sum, BRT has been granted an exclusive option to acquire the whole of the share capital of the UKC importer/distributor on the terms generally described below:

Key Acquisition Terms, Elements, and Rationale

  • UKC is a long established toy and hobby business with an impressive sales network, logistical infrastructure and customer base operating geographically principally in the UK with annual sales and profits before tax of approximately ₤1.6 million ($4 million) and ₤200,000 ($500,000) respectively.

  • UKC is to be acquired for a purchase consideration of ₤350,000 ($840,000) representing the Net Tangible Assets of the business, to be satisfied by the issue of shares (based upon market price at the time of Legal Completion) to a value of ₤100,000 ($240,000) and cash of ₤250,000 ($600,000).

  • UKC will be used as a distribution/infrastructure base from which BRT will seek to propel or spearhead the sales of over 250 BRT Group products into the European market.

  • BRT executives consider there to be a promising potential to distribute UKC product into the North American market, and in particular through BRT Group’s mass market sales pipeline.

ENDS

29 November 2007 For further information contact: Charles Mackinnon Chairman Ph: (08) 363 1920 [email protected]

==> picture [126 x 128] intentionally omitted <==