Clipper Powers Ahead with Acquisition of Zapcats
London (UK) 26, July 2004: Clipper Ventures plc, the AIM quoted marine sports company, announces the acquisition of the entire issued share capital of Zapcat Racing Limited, approved by shareholders at an extraordinary general meeting of the Company held today.
Zapcat Racing owns and operates the National Zapcat Championships, a strict one-design motor sport involving rigid inflatable boats. Since its explosive entry into the UK sports market in 2001, Zapcat Racing has seen
its fleet doubling in size year upon year to become the World's largest one-design powerboat racing series.
In addition to newly acquired Zapcat Racing, Clipper Ventures owns the rights to the Clipper 05-06 Round the World Yacht Race, setting sail from Liverpool (UK) on 18 September 2005, as well as the 5-Oceans single-handed
yacht race for professional sailors, which will next run in 2006.
The company, chaired by record-breaking yachtsman Sir Robin Knox-Johnston, is focussed on developing and promoting major events capable of attracting significant participation, media coverage and associated sponsorship
revenue. The acquisition of Zapcat Racing Ltd. firmly strengthens Clipper Ventures' position as the foremost event management company within the marine sports arena.
Under the terms of the Acquisition, 789,500 ordinary shares of the Company ('new Ordinary Shares') have been issued to the Vendors of Zapcat Racing.
Application has been made for these new Ordinary Shares to be admitted to trading on AIM, with admission expected to take place on 30, July 2004.
The merged company will be led by Sir Robin Knox-Johnston and William Ward, who respectively continue as Chairman and Chief Executive. Knox-Johnston today said: 'Acquisitions are an important component of our growth strategy for Clipper Ventures and Zapcat Racing is a natural fit for the company.
'We have been extremely impressed by the performance of Zapcat Racing and are very pleased to have acquired the business at this time in its development. We foresee great future potential for Zapcats across Europe, with significant associated sponsorship and venue hosting revenues.
'Both Clipper and Zapcats share a vision that marine sports should be accessible to an extensively broad audience, as well as providing serious commercial return to all affiliated partners and sponsors.
'An important factor of the Zapcat Racing concept is the exposure of water sports to people who would otherwise not consider taking to the waves; people with backgrounds in sports like go-karting, moto-cross, mountain biking and so on. This strongly mirrors the ethos of Clipper's renowned
Round the World Yacht Race.
'We have an excellent understanding of competitive participation, as well as the leisure market, within the marine sports arena and we are looking to build upon the joint values and synergy across these sports to further
develop Clipper Ventures position as a market leader.'
FOR FURTHER INFORMATION, PLEASE CONTACT:
Loretta Spridgeon
Head of Media & Public Relations
CLIPPER VENTURES PLC
Tel: +44 (0) 23 8023 7088
Fax: +44 (0) 23 8023 7081
Email: lspridgeon@clipper-ventures.com
www.clipper-ventures.com
www.zapcat-racing.com
Zapcat Racing owns and operates the National Zapcat Championships, a strict one-design motor sport involving rigid inflatable boats. Since its explosive entry into the UK sports market in 2001, Zapcat Racing has seen
its fleet doubling in size year upon year to become the World's largest one-design powerboat racing series.
In addition to newly acquired Zapcat Racing, Clipper Ventures owns the rights to the Clipper 05-06 Round the World Yacht Race, setting sail from Liverpool (UK) on 18 September 2005, as well as the 5-Oceans single-handed
yacht race for professional sailors, which will next run in 2006.
The company, chaired by record-breaking yachtsman Sir Robin Knox-Johnston, is focussed on developing and promoting major events capable of attracting significant participation, media coverage and associated sponsorship
revenue. The acquisition of Zapcat Racing Ltd. firmly strengthens Clipper Ventures' position as the foremost event management company within the marine sports arena.
Under the terms of the Acquisition, 789,500 ordinary shares of the Company ('new Ordinary Shares') have been issued to the Vendors of Zapcat Racing.
Application has been made for these new Ordinary Shares to be admitted to trading on AIM, with admission expected to take place on 30, July 2004.
The merged company will be led by Sir Robin Knox-Johnston and William Ward, who respectively continue as Chairman and Chief Executive. Knox-Johnston today said: 'Acquisitions are an important component of our growth strategy for Clipper Ventures and Zapcat Racing is a natural fit for the company.
'We have been extremely impressed by the performance of Zapcat Racing and are very pleased to have acquired the business at this time in its development. We foresee great future potential for Zapcats across Europe, with significant associated sponsorship and venue hosting revenues.
'Both Clipper and Zapcats share a vision that marine sports should be accessible to an extensively broad audience, as well as providing serious commercial return to all affiliated partners and sponsors.
'An important factor of the Zapcat Racing concept is the exposure of water sports to people who would otherwise not consider taking to the waves; people with backgrounds in sports like go-karting, moto-cross, mountain biking and so on. This strongly mirrors the ethos of Clipper's renowned
Round the World Yacht Race.
'We have an excellent understanding of competitive participation, as well as the leisure market, within the marine sports arena and we are looking to build upon the joint values and synergy across these sports to further
develop Clipper Ventures position as a market leader.'
FOR FURTHER INFORMATION, PLEASE CONTACT:
Loretta Spridgeon
Head of Media & Public Relations
CLIPPER VENTURES PLC
Tel: +44 (0) 23 8023 7088
Fax: +44 (0) 23 8023 7081
Email: lspridgeon@clipper-ventures.com
www.clipper-ventures.com
www.zapcat-racing.com