Parallel Media Group PLC Share price movement and suspension of shares (5465N)

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RNS Number : 5465N

Parallel Media Group PLC

09 August 2017

9 August 2017

Parallel Media Group Plc ("PMG" or the "Group")

Comment re share price movement and suspension of shares

Parallel Media Group Plc (AIM: PAA), a leading event marketing and media agency, notes the movement in its share price and confirms that the Group is in advanced discussions with another party about a possible transaction which would under the AIM rules constitute a reverse takeover of the Company. As a result, the Group's shares have today been suspended until publication of a re-admission document or until discussions are terminated.

Shareholders are advised that there can be no certainty that the discussions between the parties will lead to any agreement concerning the possible transaction or as to the timing or terms of any such transaction and there can be no assurance that, even if agreement is reached, any such transaction would be completed. A further update will be provided to shareholders in due course.

For further information please contact:

Parallel Media Group Plc

David Ciclitira Tel: [phone]

Stockdale Securities Limited

   Robert Finlay / Richard Johnson / Edward Thomas           Tel: [phone] 

This information is provided by RNS

The company news service from the London Stock Exchange

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(END) Dow Jones Newswires

August 09, 2017 07:15 ET (11:15 GMT)