MACC Macromac

TIDMMACC

RNS Number : 8017S

Macromac PLC

29 September 2014

29 September 2014

Macromac plc

("Macromac", "the Company" or "the Group")

Completion of acquisition of Smile Interactive Co., Ltd, Thailand

The Board of Macromac (AIM: MACC) is pleased to announce the completion of the acquisition of Smile Interactive Co., Ltd ("Smile"), having paid the cash consideration of Baht 10 million (equivalent to approximately GBP0.19 million) to the shareholders of Smile. The balance of the consideration due for the Acquisition is up to Baht 100 million (equivalent to approximately GBP1.9 million) on a deferred consideration basis and will be settled via the issue of up to 4,409,000 new ordinary shares in the Company over a five year period, based on Smile's audited profit after tax over the period from 1 January 2014 to 31 December 2018. Full details on the calculation of the issue of the Consideration Shares to Smile is contained in the Company's announcement of the Acquisition on 3 June 2014.

Smile, based in Bangkok Thailand, is a private limited company with its main business being the ownership and operation of a mobile content Gateway in Thailand, which provides its customers with digital marketing solutions across mobile phone networks. For the year ended 31 December 2013, revenue was Baht 145.38 million (equivalent to approximately GBP2.76 million) producing profit before tax of Baht 15.18 million (equivalent to approximately GBP0.29 million). Net assets as at 31 December 2013 amounted to Baht 12.81 million (equivalent to approximately GBP0.24 million). Following the completion of the acquisition, Eakapol Tangpaosak, the current founder and Managing Director of Smile, has been appointed as the Chief Executive Officer of Smile, to spearhead Smile's expansion and growth prospects.

Michael Lew, Executive President of Macromac, commented:

"We are excited to welcome the team of Smile into the Macromac group and we look forward to working together towards expanding the business further, particularly in Thailand. This acquisition is expected to contribute to both the top-line and bottom-line of Macromac over the coming years."

All defined terms used in this announcement shall have the same meaning as defined in the Company's announcement on 3 June 2014, unless otherwise defined herein.

For further information please visit www.macromacgroup.com or contact:

Macromac PLC +603 7784 9488

Michael Lew, Executive President

Andrew Khoo, Chief Executive Officer

KC Chong, Finance Director

Allenby Capital Limited (Nominated Adviser and Broker) +44 (0)20 3328 5656

Nick Athanas

James Reeve

Leander (Financial PR) +44 (0)7795 168 157

Christian Taylor-Wilkinson

* all GBP equivalent calculations are based on an illustrative Baht/GBP exchange rate of 0.01899 as at 25 September 2014

About Macromac

Macromac is a group of companies headquartered in Malaysia comprising three divisions. The Company aims to deliver mobile content and web-based marketing solutions to its customers across South East Asia. Through its proprietary MMP, the Company provides Premium and Bulk Mobile Messaging solutions for corporate and advertising campaigns, allowing its clients to better reach their customers by delivering targeted mobile messaging. The Company also develops project-based customised software solutions for its SME clients. The Company also offers Search Engine Optimisation (SEO) and web development services, both intended to increase the marketing reach and brand recognition of its clients' services and products.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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