Netb2b2 acquires website design company

Telecomworldwire, Sept 19, 2005

TELECOMWORLDWIRE-19 September 2005-Netb2b2 acquires website design company(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com

Netb2b2 plc, an AIM-quoted business aggregator focusing on the digital communications sector, announced on Monday (19 September) that it has acquired website design company Fernhart New Media Limited in a deal valued at GBP2.5m.

The acquisition was comprised of an initial consideration of GBP125,000 in cash; the issue of 706,880 new ordinary GBP0.10 shares at a price of GBP0.5305 per share, amounting to GBP375,000; and a deferred consideration comprising the allotment of ordinary shares of up to a value of GBP2m depending on the performance of Fernhart in each of the three years ending 30 June 2008.

An application will be made for the new ordinary shares to be admitted to trading on AIM which is expected to take place on 22 September 2005, the company said.

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