SUMU Sumus

RNS Number:7536X
Sumus plc
05 June 2007



5th June 2007

                                   Sumus Plc
            Acquisition of 50.1% of Deverill Black & Company Limited


Sumus Plc ('Sumus' or the 'Company'), the AIM listed holding company for IFA 
businesses providing investment and financial advisory services and network 
support services to IFA firms, announces that it has acquired 50.1% of the 
issued share capital of Deverill Black & Company Limited ("Deverill Black").  
The consideration of #750,000 will be satisfied by a cash payment of #525,000 
and #225,000 payable in 512,528 new Sumus ordinary shares (the "Consideration 
Shares"), both payable on completion.


Deverill Black is an Independent Financial Advisory firm based in Bristol. Since
its incorporation in 2001 it has been, and will remain, an 'Appointed
Representative' firm of the Falcon Group Plc, the Company's wholly owned
subsidiary.

For the year ended 30th November 2006, Deverill Black reported turnover of
#921,000 and profit before tax of #347,000 At that date, Deverill Black had net
assets of #153,000.


Iain Kerr Black, the principal of Deverill Black, was a Non-Executive Director
of Sumus Plc between its admission to AIM in February 2005 and December 2006.
Following the sale he and his wife, Jane Black, will, in aggregate, retain a
49.9% interest in the issued share capital of Deverill Black and will continue
to focus on growing the business in a profitable manner and increasing the value
of its annually recurring income.


The acquisition enhances Sumus's margin on the Deverill Black business whilst
also ensuring access to certain product providers. Deverill Black has over #100m
of assets under advice and works closely with discretionary asset managers. The
business enjoys a relatively high proportion of annually recurring income -
primarily fee based - in comparison with other advisers, which fits well with
Sumus's strategy of obtaining more influence over (and therefore income share
from) the assets its operating businesses advise upon. The acquisition will be
immediately earnings enhancing.


Having consulted with HB Corporate, the Company's Nominated Adviser, the
directors of the Company consider that the terms of the transaction are fair and
reasonable insofar as the shareholders of the Company are concerned.


Commenting on the acquisition, Allan Rosengren, Chief Executive of Sumus, said;


"Deverill Black has been an 'Appointed Representative' firm of the Falcon Group
since 2001. It is a quality business that we know well, with a higher than
average proportion of recurring revenues and significant funds under advice.
Certain of the asset managers which it works with are highly selective as
regards the advisers they choose to deal with and these are supply relationships
that we are keen to protect. I am delighted that Iain has selected Sumus as his
ideal business partner to assist him in deriving value from, and adding value
to, Deverill Black over the long term.


This is a demonstration of how we can enable advisers to realise capital tied up
in their businesses whilst adding value to our own. Iain will remain with the
group and will continue to develop Deverill Black for the benefit of all of its
stakeholders."

The Consideration Shares will be subject to lock-in arrangements for 12 months 
from the date of issue and to customary orderly marketing arrangements for a 
further 12 months thereafter.

Application will be made for the Consideration Shares to be admitted to trading 
on AIM.



Contact

Allan Rosengren                    0117 9330777
CEO - Sumus Plc                    07973 511941


Peter Smith                        0117 9330777
FD - Sumus Plc                     07713 885286


Edward Hutton / Rachel Kane        020 7510 8600
HB Corporate


Tom Cooper / Paul Vann             0117 9200092
Winningtons Financial


Note to Editors

Sumus, admitted to AIM in February 2005, is the group holding company of Falcon
Group Plc, a long established and consistently profitable IFA group, of
Financial Synergies Plc which was established in August 2004 and Financial
Services Advice and Support Limited which was acquired in September 2006. Falcon
was founded in 1983 by Allan Rosengren and Julian Telling, respectively the
Group Chief Executive and Group Operations Director of Sumus.

Sumus is a consolidator in the IFA sector, both by way of the organic expansion
of its operating businesses and through carefully selected investments in IFA
firms, which then become authorised through either the Falcon Group or FSAS. The
Sumus Group provides strategic direction, working capital, compliance and risk
management resources to the IFA businesses within its networks.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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