28 t ransact ions

strAtEgIc mINErAls AcQuIrEs EBoNY IroN

ptY ltD strategic minerals plc (AIm: sml) has acquired of Ebony Iron pty ltd, a privately held Australian mining company. Under the sale and purchase

agreement, Strategic Minerals acquired 100% of the issued share capital of Ebony Iron for a consideration of 9.4 million pounds sterling to be satisfied by the issue of 94 million new fully-paid ordinary shares in SML to Ebony Iron shareholders at an issue price of 10 pence per share. Ebony Iron shareholders will, in aggregate, receive a further consideration of 50 million new ordinary SML shares subject to the confirmation of an Australasian Joint Ore Reserves Committee Code (JORC) indicated resource of a minimum of 200 million tonnes of iron ore by Ebony Iron. The board of directors of SML considers

the acquisition to be an excellent opportunity for the Company, providing it with positive cash flow within the short term and access to additional iron ore production and exploration assets, while strengthening the Board and Company management. Pat Griffiths, CEO of Strategic Minerals,

commented: "This decision is in line with the Directors' objectives outlined in our recent admission document where we stated that the Directors are aware of the prospects for expansion by acquisition and will investigate any suitable potential opportunities as and when they arise." fi

WhAlEshArk mEDIA AcQuIrEs EcoNvErsIoNs, opErAtor of

vouchErcoDEs.co.uk Whaleshark media Inc (WsmI), which recently announced an investment by google ventures, continues to acquire coupon sites around the world. they have also recently announced the acquisition of econversions, ltd, operator of the web sites vouchercodes.co.uk in the uk and gutschein-codes.de in germany. Vouchercodes.co.uk was first established in

2008 and is the UK's number one voucher website. The size of the acquisition isn’t being disclosed, although it is reported to be around $40 million in cash and stock. It has also been reported that VoucherCodes is currently generating around $15 million in revenue, although the company hasn’t confirmed that. WSMI has previously acquired six other

coupon sites, including deals2buy, coupon7, couponshare, cheapstingybargains.com, deals.com and retailmenot. It is estimated that the company’s revenue prior to this most recent acquisition is around $50 million per year. Cotter Cunningham, CEO and Founder

of WSMI says: "We are excited to be working with Duncan and the team at Vouchercodes.co.uk. They are incredibly innovative and we think we can learn a lot from each other. Duncan is a leader in this space in the UK - we are pleased to have him on our team. " eConversions was founded by brothers

Duncan and Max Jennings in 2004 and had raised no outside funding. A team of DLA Piper lawyers including Elia

Montorio, Sally Benbow and Graham Roe, alongside its Texas, New York and Cologne offices advised the buyer on the deal. An Olswang team, led by Corporate partner Tony Waller, represented the founders of eConversions on the sale. fi

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AcQuIrEs EcotEch climate Energy ltd., which advises British authorities and landlords on carbon emissions and energy savings, acquired Ecotech, a provider of energy-efficient homes, to expand the company’s holdings.

Climate Energy is an award winning,

multi disciplined energy agency which provides innovative advice and funding solutions to local authorities, registered social

landlords, homeowners and

businesses. The Witham, U.K., company approached

Ecotech, based in Newbury, in April and bought it on July 29. Terms of the purchase have not been disclosed.

Under the government’s Green Deal

program, private companies will be able to offer consumers energy-efficiency improvements at no immediate cost, recouping payments later through installment charges on their energy bills. The plan was introduced as part of the government’s energy bill last December and is expected to be completed late next year.

Andrew Holmes, managing director of

Climate Energy, welcomed Ecotech’s experience in sustainable housing. “We are closer to realizing our ambitions to further our influence over the sustainable construction industry,” he said in a statement.

Climate Energy, founded in 2005, advises

more than 100 local authorities and registered landlords about energy efficiency, according to its website. The company was bought by Climate Change Capital

Ltd., a London-based

environmental investment manager, in 2009. fi

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 OCTOBER 2011

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