Z Group Plc. (ZGP.L) announced that it has entered into a conditional acquisition agreement to acquire the entire issued share capital of Avisen.
The consideration for the Acquisition will be satisfied by the issue of 86.67 million new Ordinary Shares. Based on the closing middle market price of the Ordinary Shares on AIM on 6 January 2009, the Consideration Shares are valued at £4.55 million.
In order to reflect its new activities, it is proposed to change the Company's name to Avisen plc. It is expected that Admission will become effective and dealings in the Enlarged Issued Share Capital will commence on AIM on 2 February 2009.
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