Investment Update
24 Abril 2006 - 5:24AM
UK Regulatory
RNS Number:8619B
Emerging UK Investments Plc
24 April 2006
FOR IMMEDIATE RELEASE 24 April 2006
Emerging UK Investments plc ("EUKI" or "the Company")
Part Disposal of Investment in Aerodeon Holdings plc ('Aerodeon')
EUKI, the Aim-listed investment company, has disposed of 1,000,000 ordinary
shares in Aerodeon Holdings plc for a total cash consideration of #70,000.
Aerodeon is the world's leading mobile phone marketing and advertising agency,
specialising in short message service (SMS/Text) marketing for major blue chip
clients.
The Company held a total of 1,683,500 ordinary shares in Aerodeon with a book
value of #42,000 which, after the disposal, leaves a total of 683,500 ordinary
shares with a revised book value of #17,052. The profit on disposal is #45,052.
The consideration will be paid in two equal instalments on 18 June 2006 and 18
August 2006.
Commenting on the disposal, Renwick Haddow, Chairman of EUKI said:
"Our investment was part of a fundraising to enable Aerodeon to further expand
and develop the business in new and existing areas which it is
currently undertaking successfully. This has lead to an increase in the value
of our investment and, as a result, we have been able to realise a healthy gain
within a two month period, with the possibility of a further, as yet unrealised,
gain of some #30,000."
This information is provided by RNS
The company news service from the London Stock Exchange
END
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