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Andaman Resources

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09/10/2001

Aim-listed shell Andaman has confirmed that it is in reverse takeover talks with Ofex-listed media group Galleon (formerly Synthetic Dimensions). Following the acquisition of fellow Ofex media firm A4, a publisher focused on the licensing industry, Galleon's various operations incorporate 3D graphics animation for TV and computer games, building, managing and marketing to consumer databases on behalf of external clients, a range of marketing services, and a new focus on intellectual property rights. Galleon's chairman is Jim Driscoll MBE (also of fully-listed Sanctuary), its chief executive is brother Simon (formerly of Aim flop Zoa). A4 was bought from another family member, Adam Driscoll (also of Aim firm Channelfly), after being moved into the same building as what was then Synthetic. Another of the company's acquisitions, Probe Media, was bought from Sanctuary, while the company has also got a stake in Ofex-listed Transad International, which sells advertising space on the back of airline seats and is chaired by Jim Driscoll with Simon as one of two managing directors. Galleon's final results have been delayed, but interims released in March showed a pre-tax profit of £44,405 made on £274,459 sales.

Market cap: £1.7m
PE Forecast: n/a
Share price: 2p (suspen

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