Today SEC turned into the second largest shareholder of Porta Communications Plc, a marketing and communications Group listed at London Stock Exchange’s AIM Segment (similarly to SEC) which operates under different brands Newgate Communications, Redleaf Communications, Publicasity, 2112 Communications e Summit Marketing Services in the UK (London, Bristol, Cardiff, Edimburgh and Manchester), Abu Dhabi, Bejing, Hong Kong, Singapore and Australia (Brisbane, Canberra, Melbourne and Sydney).
The 3 millons pounds worth operation was completed through a subscription agreement of a reserved emission of 85.714.286 new ordinary shares, for the equivalent of 19,3% of Porta Communications’ capital.
As second shareholder in the Company SEC nominated a non executive director in the Board while Fiorenzo Tagliabue has been appointed Deputy chairman of Porta Communications.
SEC moves a step ahead towards direct operations in key strategic markets such as Emirates, China, Hong Kong, Singapore and Australia, while Porta Communications, whose revenues in 2016 were over 37 millions pounds, collects new resources to further support the develolment of its subsidiaries.
The Groups also signed a commercial agreement under which both companies will share and jointly develop new business opportunities and platform in order to make the most of each other capabilities while strengthening each own market position inside public relations, advocacy and integrated communications arenas. Accordingly a jointly team, formed by top executives of both Groups, will be formed under the coordination of SEC and Porta’s CEOs. “
Thanks to this agreement”, Fiorenzo Tagliabue, SEC’s CEO commented, “our Groups – which have different geographical footprint with no overlaps – could exploit the best synergies in terms of know-how, competences and networks of relations, looking after key strategic markets such as Europe, Middle and Far East and Australia in a more efficient way while we will be able to pursue commonly the development of new markets from US to Latin America”.