PIMS acquisition in Canada could aid PIP status bid

Media information and services provider PIMS has received a boost

in its bid to become a Primary Information Provider (PIP) in the UK.

The company believes its acquisition this month of CCN Newswire and

Matthews Media Directories in Canada will help its chances of gaining

Financial Services Authority (FSA) approval of PIP status.

CCN Newswire already provides financial disclosures in Canada.

The financial watchdog must give its approval before the status, which

allows firms to disclose financial news and information, can be given.

PIMS has submitted its application to the FSA and is awaiting its


Financial news is presently disclosed by the London Stock Exchange's

regulatory news service (RNS).

Others to have submitted applications for approval include PRNewswire,

Businesswire and the London Stock Exchange. An announcement on which

companies will be approved is expected in the autumn. The new system is

planned to come into effect at the start of next year.

PIMS' Canadian acquisitions are believed to be worth around £20m.

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