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National World, (LSE: NWOR.L), the investment business established to create a modern platform for news publishing through acquisition and transformation, announces its results for the year ended 31 December 2020, together with details of its forthcoming Annual General Meeting, ( AGM ).
During the year, the Company continued to evaluate a number of acquisition opportunities. F ollowing a three month due diligence process, it completed the acquisition of JPIMedia Publishing Limited and its subsidiaries, (the JPI Group ) on 2 January 2021 ( the Acquisition). As the Acquisition was completed after the 2020 financial year end, the National World results for the year ended 31 December 2020 do not consolidate the results of JPI Group. ....
This announcement contains (or may contain) certain forward-looking statements with respect to certain of the Company s plans and its current goals and expectations relating to its future financial condition and performance and which involve a number of risks and uncertainties. The Company cautions readers that no forward-looking statement is a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as aim , anticipate , target , expect , estimate , intend , plan , goal , believe , or other words of similar meaning. ....
National World, (LSE:NWOR) is pleased to announce that it has acquired JPI Media Publishing Limited ( JPI ) and its subsidiaries ( JPI Group ) from JPI Media Limited for £10.2 million with completion on 2 January 2021.
Highlights · The JPI Group is the third largest local news publisher in the UK and its iconic titles and websites include: The Scotsman, The Yorkshire Post, Belfast News Letter, Sheffield Star, Edinburgh Evening News, Portsmouth News and Lancashire Evening Post. · In the year ending 2 January 2021 the JPI Group is estimated to have revenue of £85.0 million and EBITDA (before exceptional costs) of £6.0 million. · The JPI Group will provide a platform for National World to implement its strategy of creating a sustainable local online news publishing model. In the year to 2 January 2021 the JPI Group is estimated to hav ....