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Stanley Gibbons Buys Business, Certain Assets Of Nigel Haworth - Quick Facts

(RTTNews) - Stanley Gibbons' (SGI.L) board announced that on August 31, 2010 it purchased for a consideration of ??0.3 million the business and certain assets of Nigel Haworth, a specialist stamp dealer who formerly traded as M & N Haworth.

The consideration is payable as to ??0.15 million on completion with a further ??0.15 million payable in April 2011 and would be financed out of the Group's cash balances with an expected payback within 1 year.

Stanley Gibbons Chief Executive, Michael Hall commented, "The acquisition will provide benefits for many years to come through increased sales and new customer recruitment and, in due course, will significantly enhance the range offered on our website and through the traditional channels of retail and mail order."