Primesight is part of SMG’s Out of Home division which combines outdoor advertising and cinema interests.
An initial consideration of £350,000 was satisfied by the issue of 229,509 ordinary shares of 2.5 pence each in SMG. An additional consideration of up to £250,000 may become payable, which would also be satisfied by the issue of ordinary shares in SMG.
Commenting on the acquisition, Naren Patel, Managing Director of Primesight said:
Town & District Posters gives Primesight a strategic entry point into the London 48 sheet market. We intend to use this small but significant base to grow our outdoor advertising business organically and through further selective acquisitions.
