REG-M&C Saatchi PLC Acquisition - WM 5.5%

Released : 02/04/2008 17:12

RNS Number:4908R 
M&C Saatchi PLC 
02 April 2008 
M&C Saatchi PLC 
2 April 2008 
                                M&C SAATCHI PLC 
                        ("M&C Saatchi" or the "Company") 
Acquisition of additional 5.5% of Walker Media Holdings Limited 
M&C Saatchi is pleased to announce that it has acquired an additional 5.5% of 
the issued A ordinary shares of Walker Media Holdings Limited ("Walker Media") 
which includes the 4.7% held (directly and indirectly) by Phil Georgiadis. Upon 
completion of this acquisition M&C Saatchi (together with its subsidiary M&C 
Saatchi Worldwide Limited) will hold 100% of the share capital of Walker Media. 
Walker Media is a media planning and buying company that Phil Georgiadis founded 
with Christine Walker and M&C Saatchi in 1997.  Walker Media is the eighth 
largest media agency in the UK, with annual billings in excess of £300 million. 
M&C Saatchi has made a cash payment of £3,854,249 and will issue 854,978 
additional ordinary shares of 1p each in the capital of the Company ("New 
Shares"), by way of consideration. 
The 854,978 New Shares are expected to be admitted to trading on AIM on 8 April 
2008, following which the Company's issued share capital will consist of 
60,516,110 ordinary shares of 1p each. Of this total, 700,000 ordinary shares 
are held in treasury. 
M&C Saatchi's directors, having consulted with Numis Securities Limited, 
consider the terms of the transaction to be fair and reasonable insofar as M&C 
Saatchi's shareholders are concerned. 
Final payment for acquisition of 19.5% of Walker Media Holdings Limited 
On 3 July 2007 M&C Saatchi announced that it had acquired an additional 19.5% of 
the issued ordinary shares of Walker Media. This acquisition was subject to a 
deferred consideration payment following the determination of the consolidated 
profit for Walker Media for the financial year ended 31 December 2007. Following 
the finalisation of Walker Media's accounts for the financial year ended 31 
December 2007 M&C Saatchi will shortly make a final cash payment of £5,369,281, 
on top of the initial consideration of £8,783,252 and issued 1,888,236 ordinary 
shares of 1p each in the capital of M&C Saatchi ("Ordinary Shares"). 
Comment by Walker Media Chairman Phil Georgiadis 
"Since we launched the business ten years ago Walker Media has proved to be an 
extremely potent proposition for an enviable list of blue chip advertisers. The 
future is very exciting and I am passionately committed to the next stage in our 
story. We aim to grow, particularly, in the digital arena through Walker i and 
to further exploit international opportunities." 
For further information: 
M&C Saatchi PLC                      020 7543 4500 
David Kershaw, Chief Executive 
Numis Securities Limited             020 7260 1000 
Lee Aston 
Charles Farquhar 
Tulchan Communications               020 7353 4200 
Celia Gordon Shute 
Walker Media started trading in January 1998 as a 50:50 joint venture with M&C 
Saatchi. In July 2004 M&C Saatchi acquired a further 25% of Walker Media's 
shares when the Company was launched on the London AIM market. In July 2007 M&C 
Saatchi acquired a further 19.5% of Walker Media's share capital. 
                      This information is provided by RNS 
            The company news service from the London Stock Exchange