StockMarketWire.com - CEPS has agreed to acquire a 21.4% stake in NG42 Acquisitions for £500,000.

The acquisition is subject only to completion of a proposed placing by CEPS of 2.5 million new ordinary shares at 20p apiece.

NG42 was formed to acquire the entire issued share capital of CEM Group Limited.

The acquisition of CEM by NG42 was completed on 31 March.

CEM owns 100% of CEM Press Limited, a manufacturer of fabric and wallpaper pattern books with a focus on the high-end fabric and wallpaper market.

CEMP's products are sold both in the UK and overseas.

In the year ended 31 December 2010, CEMP's sales were £2,867,000 and profit before tax was £359,000.


At 9:27am: [LON:CEPS] share price was 0p at 20p



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