Disposal of Joint Venture
24 12월 2008 - 12:49AM
UK Regulatory
RNS Number : 7194K
Expomedia Group PLC
23 December 2008
23 December 2008
EXPOMEDIA GROUP PLC
(AIM:EXP)
("Expomedia" or "the Company")
DISPOSAL OF JOINT VENTURE
The Board of Expomedia, the AIM quoted media group with interests in exhibitions, conferences, venue management and related publishing,
announces that further to the statement made in the Company's Trading Update, released on the 10 November 2008, it has now completed the
sale of its interest in the joint venture with Gruner & Jahr Expomedia Events GmbH for initial net proceeds of EUR415,000 with a further
EUR85,000 payable within 12 months.
For the year ended 31 December 2007 the joint venture with Gruner & Jahr showed turnover of EUR2,690,000, of which Expomedia's share was
EUR1,345,000. The net loss was EUR976,000 and Expomedia's share of this was EUR488,000. Net assets were EUR572,000 at 31 December 2007.
--ENDS--
Enquiries:
Expomedia Group Plc Tel: 020 8386 0070
Mark Shashoua
Darra Comyn
Bishopsgate Communications Ltd. Tel: 020 7562 3350
Maxine Barnes
Gemma O'Hara
Charles Stanley Securities (Nominated Adviser) Tel: 020 7149 6000
Mark Taylor
This information is provided by RNS
The company news service from the London Stock Exchange
END
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