Ocelot Partners Limited COMPLETED ACQUISITION OF OCEAN OUTDOOR (3028J)
March 28 2018 - 11:37AM
UK Regulatory
TIDMOLOT TIDMOLOW
RNS Number : 3028J
Ocelot Partners Limited
28 March 2018
OCELOT PARTNERS LIMITED (THE "COMPANY")
OCELOT PARTNER LIMITED COMPLETES ACQUISITION OF OCEAN
OUTDOOR
28 March 2018
Further to the announcement on 1 March 2018, Ocelot Partners
Limited (LSE: OLOT / OLOW) ("Ocelot" or the "Company") announced
today that it has completed its acquisition of Ocean Outdoor
("Ocean"), a pure play operator of premium digital out-of-home
advertising in the United Kingdom, for an enterprise value of
GBP200 million (the "Transaction").
Following completion of the Transaction, Ocean's Chairman, Tom
Goddard and Ocean's CEO, Tim Bleakley have joined the Company as
non-executive Chairman and CEO respectively and Ocelot will change
its name to Ocean Outdoor Limited
With this anchor investment in Ocean, Ocelot seeks to build a
scale out-of-home media consolidation vehicle. In addition to
supporting Ocean's organic growth initiatives, Ocelot will pursue
strategic and complementary acquisitions intended to enhance
Ocean's scale, customer offering and deepen its market
leadership.
For further information, please contact:
Matt Feldman - +44 (0) 20 7082 1585
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements which are based on Ocelot's expectations, intentions and
projections regarding its future performance, anticipated events or
trends and other matters that are not historical facts, including
expectations regarding (i) the ability of Ocelot to timely effect
re-admission of Ocelot's ordinary shares on the London Stock
Exchange; (ii) the ability of Ocelot to meet the eligibility
criteria and effect a listing of its ordinary shares on the London
Stock Exchange, and (iii) the future operating and financial
performance of Ocelot. These statements are not guarantees of
future performance and are subject to known and unknown risks,
uncertainties and other factors that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements, including (i) economic conditions,
competition and other risks that may affect Ocelot's future
performance, (ii) the occurrence of any event, change or other
circumstances that could give rise to the termination of the
definitive agreement entered into among the parties thereto in
connection with the acquisition (the "Transaction Agreement");
(iii) the risk that securities markets will react negatively to the
transaction or other actions by Ocelot, Ocean and the combined
company after completion of the proposed transaction; (iv) the risk
that the proposed transaction disrupts current plans and operations
as a result of the announcement and consummation of the
transactions described herein; (v) the ability to recognise the
anticipated benefits of the combination of Ocean and Ocelot and of
the combined company to take advantage of strategic opportunities;
(vi) costs related to the proposed transaction; (vii) the limited
liquidity and trading of Ocelot's securities; (viii) changes in
applicable laws or regulations; (ix) the possibility that Ocelot or
Ocean may be adversely affected by other economic, business, and/or
competitive factors; and (x) other risks and uncertainties. Given
these risks and uncertainties, prospective investors are cautioned
not to place undue reliance on forward-looking statements.
Forward-looking statements speak only as of the date of such
statements and, except as required by applicable law, neither
Ocelot nor Ocean undertake any obligation to update or revise
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise. Nothing in this
announcement constitutes or should be construed as constituting a
profit forecast.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQFMGZFKRDGRZM
(END) Dow Jones Newswires
March 28, 2018 11:37 ET (15:37 GMT)
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