Ocean’s ordinary shares once again trading on London Stock Exchange
By M4G Bureau - January 10, 2019
On 28 March 2018, Ocelot Partners Limited had completed the acquisition of Ocean Outdoor for an enterprise value of £200 million
Further to its announcement on January 7, 2019, Ocean Outdoor has informed that its ordinary shares have been re-admitted to the Standard Listing segment of the Official List of the UK Listing Authority, and that trading in its shares recommenced on January 10 on the London Stock Exchange's Main Market (LSE: OOUT). Barclays Bank PLC and Numis, Ocean Outdoor’s Corporate Brokers, have acted on behalf of Ocean Outdoor with respect to the re-admission.
On March 28, 2018, Ocelot Partners Limited (Ocelot) completed the acquisition of Ocean Outdoor for an enterprise value of £200 million. Ocelot was renamed Ocean Outdoor Limited following the acquisition. On June 2, 2018, Ocean Outdoor completed the acquisition of Forrest Media (Holdings) Limited, a leading provider of large format outdoor media solutions in Scotland, for an enterprise value of £32 million.
Ocean Outdoor has been a pioneer in iconic DOOH advertising in the UK and has established its position by focusing on scarcity, scale, location, impact, advertiser relevance, smart technology and branding.
Using its knowledge and skills, the Group will seek to increase its footprint through its strong pipeline of digital assets under development and live projects and tenders across the UK. At the same time, Ocean Outdoor will be continuing to develop its technology and in-house products, which provide greater creative solutions for brands and, in turn, enhance their interaction with consumers.
The Group has already proven its ability to execute acquisitions and the management team will consider, as part of the Group’s growth strategy, further acquisitions that are deemed both value accretive and in-line with its overall DOOH services strategy.
Commenting on the re-admission, Tim Bleakley, CEO, said: “The team is excited to have completed this process and to now be fully focussed on the future. We believe that our quoted status provides an ideal platform from which to accelerate our growth ambitions.
“Ocean performed well during 2018 whilst also successfully integrating Forrest Media into the Group. The enlarged group will deliver a compelling and impactful network of national urban audiences for advertisers. With a strong pipeline of new locations set to launch in the near term, we are positive on the outlook for 2019.”