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RDM First Trust Dow Jones Select Microcap Index Fund(Intraday Indicative Value)

0.00
0.00 (0.00%)
Name Symbol Market Type
First Trust Dow Jones Select Microcap Index Fund(Intraday Indicative Value) AMEX:RDM AMEX Index
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 0 -

Disposal

18/02/2003 9:30am

UK Regulatory


RNS Number:6223H
Radamec Group PLC
18 February 2003


RADAMEC SELLS BROADCAST TV BUSINESS


Radamec Group PLC, which designs, manufactures and sells Electro Optical Control
Systems for the Defence and Television markets and Marine and Environmental
Control Systems, announces that it has today sold Radamec Broadcast Systems
Limited (RBS) and the net assets of its US subsidiary Radamec Incorporated
(Inc:) to The Vitec Group plc.  The consideration for the purchase of Inc: and
the shares of RBS was a cash sum of #4.65 million paid on Completion.  Pre-tax
profits for 2001, the last audited year's accounts, were #574,000 and combined
net assets of RBS and Inc:  adjusted for cash and intercompany debt were
#2,355,000.  RBS's Studio Robotic Camera Control and Virtual Reality Systems
complement Vitec's wide range of automated TV studio systems.


Len Whittaker, Chairman & Chief Executive, stated that "the deal results in a
substantial capital gain and significant cash balance for Radamec and follows
the #4.6m sale in July 2002 of its freehold Thames-side factory site at
Chertsey.  Minimal tax is payable and the proceeds will assist the Board's
forward planning and its consideration of an appropriate Group capital structure".


Enquiries:

Radamec Group PLC                                                   01932-561181
  Len Whittaker (Chairman & Chief Executive)
  Lionel Moore (Finance Director)

Bankside Consultants Limited
 Charles Ponsonby                                                  020-7444 4166




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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