Geldof firm to be quoted on Stock Exchange

Live Aid mastermind Bob Geldof today struck a deal which will see his media and events company listed on the London Stock Exchange.

The deal will see 10 Alps Broadcasting, the firm he formed with radio producer Alex Connock in 1999, take over publicly quoted marketing and communications business Osprey Communications.

Under the reverse takeover deal, Osprey will buy Geldof’s company and raise £3.45 million following which the firm will change names to Ten Alps Communications and will be worth around £9 million.

Geldof, who will become a non-executive director of the firm and will own around 12% of the shares, said: ‘‘This is not a mega deal, but it is a great one for us and Osprey.

‘‘We do TV, radio and events production. By adding advertising and sponsorship revenues, it allows us to own that content which, in the world of new media is the name of the game.

As a non-executive director, Geldof will not have a hands on-role in running the company, but he is based close to the group and will be in close contact.

He said: ‘‘The office is 100 yards from me in Battersea. I’m not going to run the office that’s not my skill at all. But I’m on the phone minimum four or five times a day to them.

‘‘I never have run companies, I’m not interested in that and I’m not good at it.’’

He said his value would be in the ‘‘ability to see an idea and articulate it and remove yourself from the day-to-day’’.

However, he admitted he had found doing the deal a tough task.

‘‘It has been tortuous to do this deal.

‘‘Frankly I’m chronically impatient - once you get the institutions and the City, and visit the company and talk to their management, it does go on. There are a lot of people involved.

‘‘People who do public company deals say this is easy, but it is new for me.

He added following the listing, Osprey would keep its two advertising agencies, which he said were ‘‘fantastically run’’.

‘‘The cool thing is I hate deals where anyone loses their job.’’

And following the listing, he said Ten Alps Communications had its eye on making acquisitions.

‘‘There are a couple of companies out there we want to buy,’’ he said.