Over the last two years Be Heard has built an attractive commercial offering that is finding excellent traction with 36 new client wins YTD. Moreover its ability to execute against its cross-sell objective has been very successful. In H1 23% of group revenue was derived from customers using two or more group companies. This is an astounding start given some wins are not even at full run rate. The number of multi-company clients has risen to ten (H1:6) and seems likely to continue to rise as the group level sell has commenced and already been successful under a new Chief Growth Officer. The Company is now seeking to scale further with another acquisition. This acquisition boosts earnings and enhances financial scale, as well as helping deepen the quality of the offering and increase cross-selling potential. Subject to approval and completion it lifts 2018 and 2019 EPS by 14.0% and 13.6%. The transaction will be financed via a placing of £2.2m of shares and issue of £4m convertible loan notes. The transaction is conditional on General Meeting approval.
