Tibergest, a company wholly-owned by Mr. Serge Crasnianski, the Chief Executive Officer of Photo-Me, agreed to acquire the remaining shares in Photo-Me, an operator of photobooths, at a £285m valuation. Bidco does not intend there to be any changes to Photo-Me's business (including research and development) or broader strategic plans, or locations and places of business (including its headquarters and headquarters functions), as a result of the offer and there is no intention to redeploy any of Photo-Me's fixed assets.