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ECK Ludwig Beck AG

21.20
-0.40 (-1.85%)
21 May 2024 - Closed
Realtime Data
Share Name Share Symbol Market Type
Ludwig Beck AG TG:ECK Tradegate Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.40 -1.85% 21.20 20.80 21.60 21.00 21.00 21.00 170 22:50:02

Disposal

29/12/2003 10:52am

UK Regulatory


RNS Number:6875T
Eckoh Technologies PLC
29 December 2003


For Immediate Release                                  29th December 2003


                  Sale of Investment in Rivals Digital Media

Eckoh Technologies plc ("Eckoh") today announces that it has agreed to sell its
40% equity investment in Rivals Digital Media Limited ("Rivals") as part of a
sale of the entire share capital of Rivals to ukbetting plc.  Eckoh will receive
consideration totaling #700,000, payable half in cash and half in ukbetting plc
shares.  In addition, potential loan commitments from Eckoh totaling #250,000
have been cancelled.


Last year Eckoh wrote down its investment in Rivals to zero, and will therefore
report an exceptional gain from the sale in this year's financial statements.


Rivals is the producer, publisher and distributor of sports content across
digital platforms, particularly the internet and mobile phones.  Rivals 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.


Martin Turner, Chief Executive Officer of Eckoh, commented:


"This sale completes our exit from internet content provision.  The Rivals
management team have done an excellent job over the past two years, and we wish
them and ukbetting the very best of luck in the future."


For further enquiries, please contact


Eckoh Technologies plc                         Tel: 08701 100 700

Martin Turner, Chief Executive Officer


Buchanan Communications                        Tel: 020 7466 5000

Mark Edwards/Jeremy Garcia



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

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