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Product placement group heads for Aim

Article Date:  Sep 25 2001

Media and retail group asSeenonScreen is poised to launch itself onto Aim on 3 October, having raised £225,000 through a Seymour Pierce-advised placing of 1,125,000 shares at 20p. Elliott Davis reports.

The group consists of two subsidiaries, Entertainment Marketing – established by chief executive Nick Robertson and business development director Quentin Griffiths in 1995 – and ASOS, which was incorporated in June 2000.

Entertainment Marketing specialises in gaining advertising coverage for specific brands and products through placement in films and television programmes. Examples of the company's work include TV favourite Ricky Tomlinson sucking on Carlsberg-Tetley's finest lager during an episode of The Royle Family, and New Zealand-born superstar Russell Crowe enjoying the comforts of BA's flat bed in Hollywood blockbuster Proof of Life.

The majority of Entertainment Marketing's clients pay fixed annual fees for this service.

Thanks to the second subsidiary, ASOS, consumers can then buy products that are advertised in this way, and can also purchase clothes and items either worn or used by their favourite celebrities. Visitors to the group's website can thus pay homage to their idols through imitation, and are given the chance to select from a horde of stars including Brad Pitt, Madonna and the mighty Atomic Kitten.

In addition to the £225,000 secured through the private placing, asSeenonScreen will also have a further £350,000 at its disposal, from the acquisition of cash shell Brindle for £1.6 million in shares. The combined funds are likely to be channelled into developing and marketing the ASOS business.

Though the year to December saw the group generate a £1.7 million loss on just £790,163 of turnover, asSeenonScreen boasts a strong management team and is chaired by Lord Waheed Alli. As well as holding a similar position at fellow Aim venture Tornado, Alli is the former managing director of media groups Carlton Productions and Planet 24.

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