Disposal
29 Diciembre 2003 - 2:46AM
UK Regulatory
RNS Number:6831T
Chrysalis Group PLC
29 December 2003
FOR IMMEDIATE RELEASE 29 December 2003
CHRYSALIS GROUP PLC
Sale of Interest in Rivals Digital Media
Chrysalis Group Plc ("Chrysalis") announces that it has sold its last remaining
dot.com investment - a 40% interest in Rivals Digital Media Limited ("RDM") -as
part of a transaction involving the sale of the entire share capital of RDM to
UKBetting Plc.
The disposal, by subsidiary Chrysalis Holdings Limited, was completed on 24
December 2003 for consideration, in respect of the Chrysalis' 40% shareholding,
of #700,000 satisfied half in cash, payable at completion, and half in
unrestricted UKBetting shares which it is intended to sell in the short term.
In addition, an inter-company loan from Chrysalis to RDM of #366,000 was repaid
on completion, and other loan facility commitments from Chrysalis totalling
#550,000 have been cancelled.
RDM is the producer, publisher and distributor of sports content across digital
platforms, particularly the internet and mobile phones. The company reported a
loss for the year to 31st August 2003 of #1.12 million (2002: #1.69 million
loss) on a turnover of #3.70 million (2002: #2.33 million). Net assets at 31st
August were #3,000. The other shareholders in RDM, who have also sold all of
their interests, were Eckoh Technologies (UK) Limited and members of the RDM
management. The transaction results in a small exceptional profit for
Chrysalis.
Contacts:
Chrysalis Group Plc:
Nigel Butterfield, Group Finance Director 020 7221 2213
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
DISDGMZZRLFGFZG