QuickView: Making a splash in Asia
Following on from the progress reported at the recent interim figures, the mission has raised £2.4m gross via a placing of 5.7m new shares at 42p, a small premium to the previous close. It has also made a further step towards its goal of increasing the group’s scale and reach through its intended purchase of a 70% holding in Splash, a digitally-focused agency in Asia, on an exit multiple equivalent to around 7x profits. The return to dividend payments with the interims underlines management’s growing confidence. The shares trade at an unwarrantedly large discount to peers.
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