Coolabi plc receives a take-over offer from North Promotions

Coolabi plc have received a take-over offer from North Promotions Limited for 7.75p per share in cash with a share alternative in North Promotions Limited. This values the equity at £4.3m .

North Promotions Limited has said that it attaches great importance to the skills and experience of the existing Coolabi management and, accordingly it is intended that any offer made, will include management incentivisation arrangements.

Ownership, development, creative management company Coolabi started life as Alibi Communications plc. Alibi, formed in 1999, completed a successful flotation on the London Stock Exchange via AIM that year and was a producer of prime time television drama and children’s television drama.

In 2004 Alibi merged with Coolebah Limited, a business engaged in licensing and animated children’s television production.  In 2005, Alibi changed its name to Coolabi plc.

In September 2006, Coolabi acquired the children’s division of Zenith Entertainment Limited for a total consideration of up to £0.1 million. In May 2007, Coolabi acquired Purple Enterprises Limited for an initial consideration of £3.3 million and in September of that year, Coolabi acquired Indie Kids for an initial consideration of £0.2 million. In November 2008, Coolabi acquired Licensing By Design for an initial consideration of £0.4 million.

Current properties include Purple Ronnie, The Large Family, King Arthur’s Disasters, The Worst Witch, Fungus The Bogeyman and Scarlett & Crimson. In addition Coolabi license rights to selected properties that include the Oliver Postgate and Peter Firmin trio of properties Bagpuss, The Clangers and Ivor The Engine.

UK, London