TradeLabs Plc
LSE : TLAP

October 08, 2009 02:00 ET

Acquisition ? Real Value Consultancy FZE

                                                                                           08/10/2009
                                                                                         JE00B3FMYW12
                                                   
                                             TradeLabs Plc

                                    ("TradeLabs" or the "Company")
                                                   
                               Acquisition - Real Value Consultancy FZE
                                                   
                                                   
The Board of Directors of TradeLabs Plc, the PLUS-listed algorithmic trading and distribution company,
(PLUS: TLAP) (the "Board") is pleased to announce the acquisition of Real Value Consultancy FZE ("RVC"
or 'the Acquisition").

RVC  is  a  United  Arab  Emirates  ("UAE") incorporated financial investment  consultancy  which  was
established  in February 2009. The company holds a trade licence and engages in futures  trading.  The
licence  also  enables RVC to practice banking and financial consultancy within the  UAE.  Since  20th
March  2009  when  its  four trading desks began trading futures contracts, RVC has  turned  over  USD
101,354,578.75 in crude oil, the Dax, natural gas and currencies contracts.

RVC  is  located  in the emirate of Ras Al Khaimah, a free-trade zone which benefits  from  the  local
taxation  laws.   No corporate taxes are charged, there are no exchange controls and  no  withholding,
import or export taxes are applied.

The  consideration  for  the acquisition is USD 1,250,000 (approximately  GBP  762,373  based  on  the
prevailing  exchange rate of USD 1.63962 on 22 September 2009, when the terms of the Acquisition  were
agreed)  for 100 per cent of RVC's issued share capital. The consideration has been satisfied  by  the
allotment of 3,465,331 New Ordinary Shares in the Company.

Aninder  Singh  Sawhney, owner of RVC, said "The acquisition is a marriage of mutual  convenience  for
both  companies.   TradeLabs will acquire a company in the UAE which holds a trade  license  and  will
attract  more  business from the Middle East. We also have an extensive database  of  global  contacts
which we intend to introduce to TradeLabs."

Niraj  Goel, Director of TradeLabs, said "This acquisition represents an important step in the Board's
strategy  to establish a TradeLabs presence across a range of geographies. This represents  the  third
acquisition TradeLabs has completed over the course of the last month and a half.  We look forward  to
announcing further acquisitions in the future."

Following  this  acquisition the number of Ordinary shares in issue has increased from 207,791,530  to
211,256,861.   The  Directors of TradeLabs continue to hold 165,235,279 Ordinary shares,  representing
78.2% of the issued share capital of the Company.

The Directors of TradeLabs are responsible for the contents of this announcement.

Contacts

TradeLabs Plc
Marcus Yeoman                                                                      +44 (0) 7970 028442
                                                   
Investor Relations
Claire Hocken                                                                            +65 8135 1831

St Helens Capital Partners LLP
Duncan Vasey or Mark Anwyl                                                        +44 (0) 207 368 6959

Contact Information

  • TradeLabs Plc