Signs Letter of Intent for Financial Social Media Investment
London, June 28, 2012 AEST (ABN Newswire) - Millhouse, Inc. plc (
M77:FRA) the Deutsche Börse listed financial services group, has announced that it has signed an exclusive Letter of Intent to acquire the intellectual property and distribution of a reputable branded business publication in Australia.
On completion, this acquisition will complement its strategy in financial markets social media and investor communications. Additional distribution amounts to 34,000 subscribers. Millhouse, Inc. PLC has previously announced that it was in continued negotiations to acquire a leading financial markets social media platform.
It is intended that subscriptions for published content will be migrated from print format to tablet format and will include the sale of the tablets as part of the subscription.
The Chairman, M. Paillart, stated from Singapore today that "social media in the finance sector was in its infancy and the combination of a modern social media platform, the sales of tablets, and useful online content makes for a valuable information business in the digital economy".
Millhouse, Inc. PLC intends to complete EBITDA accretive acquisitions in private banking, wealth management, investment, asset and funds management and private equity and debt markets. The positive cash flow from the acquisitions would be used for additional acquisitions as the company embarks on a rapid expansion phase in 2012-13 and for debt retirement as appropriate. The company will also be sponsoring new IPO's on Deutsche Börse as part of its private equity strategy.
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The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements.
Contact
Millhouse Inc. Plc
T: +61-3-9221-6195
F: +61-3-9653-6129
E: investorrelations@millhouse.co
WWW: www.millhouse.co/international
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