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RNS Number:2013W
Watermark Group PLC
08 May 2007


For immediate release: 8 May 2007


              Watermark Group plc ("Watermark" and "the Company")
                                        
                                        
                         Deferred Consideration Payment
                                        
                                        
Watermark announces today, 8 May 2007, its deferred cash and share consideration
payments now due under the terms of the Air Fayre Limited acquisition set out
below. This company has delivered in excess of its targeted profitability of 30%
growth in post tax profits, as defined under the Sale and Purchase Agreement
dated 20 January 2004, on an overall basis. The maximum deferred consideration
of the earn out due has therefore been achieved and bonus shares are entitled to
be paid out.


Final deferred consideration of #4,250,000 together with bonus consideration to
the value of #393,654 is payable to the vendors for the year ended 31 December
2006. The Company has elected to pay half the bonus consideration in cash and
half in shares.


This total deferred consideration is to be satisfied by the payment of
#2,321,827 in cash, being #2,125,000 for the deferred cash consideration and
#196,827 in respect of bonus cash consideration, and the issue of 2,158,276 new
ordinary shares of 1 pence each in Watermark Group plc ("Ordinary Shares"),
being 1,370,968 Ordinary Shares in respect of the deferred consideration shares
and 787,308 Ordinary Shares in respect of the bonus shares.


The deferred cash of #2,321,827 will be paid today, 8 May 2007.


These new shares rank pari passu in all respects with the existing Watermark
shares now in issue. Applications to the UKLA and to the London Stock Exchange
have been made for the new Watermark shares to be admitted to the Official List
of the UK Listing Authority and to be admitted to trading on the London Stock
Exchange. It is expected that dealings in these new shares will commence on 11
May 2007. Following the issue of these shares, there will be no further
consideration payable in respect of this acquisition.



For further information please visit www.watermark.co.uk or contact:

Peter Fitzwilliam                                 Jeremy Carey
Watermark Group plc                               Tavistock Communications
Tel: 020 8606 2000                                Tel: 020 7920 3150
e-mail: info@watermark.co.uk                      e-mail: jcarey@tavistock.co.uk







                      This information is provided by RNS
            The company news service from the London Stock Exchange

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