Porta Communications PLC Redleaf Rebrands as Newgate Communications (1146G)
November 02 2018 - 2:00AM
UK Regulatory
TIDMPTCM
RNS Number : 1146G
Porta Communications PLC
02 November 2018
2 November 2018
Porta Communications Plc
("Porta" or "the Group")
Redleaf Rebrands as Newgate Communications
Porta Communications Plc (AIM: PTCM) announces that its 100%
owned subsidiary, Redleaf Polhill Limited ("Redleaf"), has been
fully integrated into its global strategic communications agency,
Newgate Communications, and will now operate under that brand.
Redleaf was founded in January 2000 by Emma Kane and, in
December 2010, acquired and successfully integrated Polhill
Communications. On 23 April 2014, Redleaf was acquired by Porta,
becoming a wholly owned subsidiary in June 2018 on completion of
the earn-out provisions of the acquisition agreement.
Emma Kane was appointed Chief Executive of Newgate
Communications Limited and Joint-CEO of Porta on 27 April 2018; the
integration of Redleaf and Newgate Communications Limited began on
that date.
The merger of Redleaf and Newgate Communications Limited from an
accounting perspective will result in a write off of the Redleaf
brand intangible which as at 30 June 2018 had a carrying value of
GBP0.4m. In turn this write off will reduce the annual amortisation
charge on brand intangibles by GBP0.1m from 2019.
Additionally, Porta is centralising certain UK subsidiary back
office functions in the UK which is expected to deliver annualised
cost savings in excess of GBP0.2m.
Commenting on the rebranding, Emma Kane said:
"This is a very exciting milestone. Today we are formally
bringing together two award-winning brands, two great teams, and
two exceptional client bases to provide fully integrated and
seamless communications under the Newgate Communications brand.
"We now have 16 offices across 7 countries and a significantly
expanded range of services delivered by a team of 281 motivated and
talented people, passionate about being the best. Our focus going
forwards will be on solving communications challenges with
evidence, enthusiasm, creativity and integrity.
"Under one brand we are able to reflect the unity and
consistency of services whether we are operating locally,
nationally or internationally; whatever we are doing for our
client, it is one organisation, committed to excellence. I am
incredibly proud of everything that the team has achieved to date
and very motivated by the immense opportunity we have going
forwards."
- ends -
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Enquiries to:
Porta Communications Plc
Gene Golembiewski, Executive Director
www.portacomms.com
+44 (0) 20 7680 6550
Newgate Communications (Media Enquiries)
Bob Huxford
Adam Lloyd
+44 (0) 20 7680 6550
porta@newgatecomms.com
Grant Thornton UK LLP (Nominated Adviser)
Samantha Harrison
Ben Roberts
Seamus Fricker
+44 (0) 207 383 5100
N+1 Singer (Broker)
Mark Taylor
Lauren Kettle
+44 (0) 20 7496 3000
Notes for Editors
-- Porta is a fully integrated communications agency, operating
locally, nationally and internationally, with specialisms including
financial, corporate and consumer public relations, public affairs
and research and multi-capability marketing, brand and creative
communications.
-- The Group has offices in Abu Dhabi, Beijing, Brisbane,
Bristol, Canberra, Cardiff, Leeds, Edinburgh, Hong Kong, London,
Manchester, Melbourne, Perth, Shanghai, Singapore and Sydney.
-- Further information on Porta Communications is available at www.portacomms.com
-- Further information on Newgate Communications is available at www.newgatecomms.com
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
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contact rns@lseg.com or visit www.rns.com.
END
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