TIDMSECG
RNS Number : 9348L
SEC Newgate S.p.A.
18 January 2021
18 January 2021
SEC Newgate S.p.A. ("SEC Newgate" or the "Group")
Merger and Rebranding of UK Agencies
Change of TIDM to SECN
SEC Newgate S.p.A., the insight-driven global strategic
communications group that works at the nexus of business, politics,
communities, markets and media, today announces two further key
steps, in line with its Strategic Plan, to create a fully unified,
powerful global communications brand.
With immediate effect, its two largest UK agencies, SEC Newgate
UK Ltd. (formerly Newgate Communications Ltd) and Newington
Communications Ltd ("Newington"), will merge and rebrand as SEC
Newgate UK. As part of this combination, SEC Newgate is increasing
its stake in Newington from 60% to 100%, as described more fully
below, and the business and assets of Newington have been
transferred to SEC Newgate UK Ltd.
The combined entity, SEC Newgate UK, has 130 employees and eight
offices across the UK. Its recent awards include Best Integrated
Campaign (PRCA DARE Awards 2020) and Planning Campaign of the Year
(PRCA Public Affairs Awards 2020). SEC Newgate UK unites under one
roof creative thinkers able to use research and the latest
technologies to drive insights and analysis of the competitive,
cultural and political environments in order to fuel strategic
thinking and boost the ability to understand and predict
perspectives and deliver for SEC Newgate's clients.
By the end of this year, it is i ntended that all agencies
across the SEC Newgate group will transition to the SEC Newgate
brand. This will enable advice to be delivered under one brand by
over 600 professionals across six continents, providing clients
with around the clock counsel and support, implementing campaigns
locally, nationally and internationally.
Change of TIDM
To reinforce the unified Group branding, the Group's TIDM will
change from SECG to SECN with effect from 8.00 a.m. on 19 January
2021.
Newington
SEC Newgate S.p.A. has acquired the 40% minority stake not
already owned by it, taking its holding up to 100% of Newington.
The cash consideration for the acquisition is GBP420,799, payable
in six instalments of GBP70,133 commencing six months after
completion and on a six-monthly basis thereafter. Subject to SEC
Newgate obtaining the necessary approvals to allot new ordinary
shares, the Newington vendors, who include Mark Glover, a Director
of SEC Newgate, have agreed that 30% of the consideration may be
satisfied by SEC Newgate issuing and allotting new ordinary shares
in SEC Newgate to the vendors at a price of GBP0.41 per share,
being the SEC Newgate 12-month average share price, by no later
than 1 June 2021. In the event that such shares are issued and
allotted the cash consideration shall be reduced accordingly.
Commenting on the announcement, Fiorenzo Tagliabue, Group Chief
Executive, said:
"SEC Newgate is already a top 30 global communications group and
clients are increasingly working with many of our agencies across
multiple jurisdictions. We now feel it is time to simplify our
story and operate under one brand whilst ensuring that we retain
the entrepreneurial spirit and domestic insights that are the
hallmarks of our success."
Emma Kane, Chief Executive of SEC Newgate UK and Deputy Group
CEO, added:
"The marriage of Newgate and Newington creates a fully
integrated service across communications, advocacy and research,
all under one P&L. Our new brand reflects our strong local
roots, global reach and true entrepreneurial spirit. This is great
news for our talented team of people and the organisations we
partner with as our clients."
Mark Glover, Executive Chairman of SEC Newgate UK and Group
Director, commented:
"We are delighted to be joining forces to create SEC Newgate UK.
The whole is definitely stronger than the sum of the parts,
bringing together award-winning teams across the full
communications spectrum to deliver positive, winning solutions for
our clients' priority issues. We are excited about the significant
opportunity we have as SEC Newgate UK."
- ends -
Media Enquiries
Fiorenzo Tagliabue (Group CEO) Tel: +39 335 6008858
tagliabue@secrp.com
Emma Kane (Deputy Group CEO, Tel: +44 (0) 7876 338339
CEO SEC Newgate UK) emma.kane@secnewgate.co.uk
Sergio Penna (Group CFO) penna@secrp.com
Arden Partners
(Nominated Adviser and Broker)
Richard Johnson / Benjamin Cryer Tel: +44 (0) 20 7614 5900
Notes to Editors
-- SEC Newgate's focus is on achieving positive outcomes through
communications, advocacy and research, helping clients clearly
demonstrate their purpose, value, and impact locally, nationally
and internationally.
-- Further information is available at the Group's website: www.secnewgate.com
-- Further information on SEC Newgate UK is available at: www.secnewgate.co.uk
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END
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