![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Chariot (UK) | LSE:CRT | London | Ordinary Share | GB00B0P0XQ12 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.48 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:7676P Chariot (UK) PLC 18 January 2007 For immediate release 18 January 2007 Chariot (UK) plc ("Chariot" or the "Company") Disposal of the Company's trading operations On 16 January 2007, the Board of Chariot announced that it had been evaluating proposals received from a number of parties relating to the disposal of the Company's assets. The Board announces that it has today sold certain of the assets of the Company to NetPlay TV plc ("NetPlay TV") for an aggregate consideration of #140,500 in cash (the "Transaction"). The consideration will be received by the Company on or before 19 January 2007. Pursuant to the Transaction, NetPlay TV will acquire from the Company the intellectual property rights attaching to Chariot's online charity lottery, monday, as well as Chariot's entire player database. NetPlay TV will, with immediate effect, take responsibility for the operation and operating costs of monday and have the benefit of monday's revenues. Chariot will give certain assistance to NetPlay TV for an approximate four week period following the Transaction in order to provide an orderly transition (including the ongoing servicing by Chariot of existing contracts, for which an estimated #40,500 of the consideration proceeds will be used). Following the completion of the Transaction, save for in assisting NetPlay TV in an orderly transition, Chariot will cease to be involved with, or operate, the online charity lottery, monday, or any associated games. NetPlay TV (formerly Stream Group plc) is an AIM listed company focusing on interactive TV gaming. NetPlay TV acquired Vegas 247 Limited, a TV production company that produces the interactive TV game "Live Roulette" on Sky Channel 847, in December 2006. The company operates this programme under a UK gaming licence. NetPlay TV believes that combining the current player base of monday with its TV production skills to produce a live, interactive TV lottery show will give players an enhanced experience and that linking the flexibility of the internet with the traditional TV broadcast will add further trust and credibility to the monday game. In view of the nature of the Transaction (which will result in a fundamental change to Chariot's business), Chariot would ordinarily be required, under Rule 15 of the AIM Rules, to obtain prior shareholder approval for the sale of Chariot's assets to NetPlay TV. However, due to Chariot's financial position and on the basis that Chariot has received undertakings from shareholders who hold over 50% of Chariot's issued share capital (including the members of the Board who own 18.4% of Chariot's issued share capital) that they support the Transaction, Chariot has received dispensation from the AIM Team from the requirement under the AIM Rules to obtain prior shareholder approval for the Transaction. The Transaction will result in Chariot disposing of all of its trading business activities and, as a result, Chariot will, following completion of the Transaction, be treated under Rule 15 of the AIM Rules as an investing company. Shareholders of the Company will be provided with, in line with Schedule 2(j) of the AIM Rules, information on Chariot's investing strategy in the announcement of the Company's interim results for the period ending 31 October 2006 (to be released by 31 January 2007). The Board currently anticipate that Chariot would seek to find a business to reverse into it. Such a business would not necessarily be a lottery operation. The proceeds receivable by Chariot pursuant to the Transaction (other than those used to provide an orderly transition to NetPlay TV) will be used to fund the winding-down of its current operations (including costs relating to the Transaction) and continuing liabilities and, thereafter, to support Chariot's investment strategy. Peter Jones, the Chairman of Chariot, commented: "Despite our best efforts we have unfortunately been unable to secure an independent future for the monday lottery. Nevertheless, we are delighted that the monday game will continue under the new ownership of NetPlay TV. Whilst it is disappointing that Chariot will no longer operate the lottery, everyone at Chariot is proud of having raised over #1.65 million for the charity partners since May and delighted that this transaction allows the charity partners and players to continue to benefit from monday. Following the completion of the sale of the game to NetPlay TV the Company will administer the run-down of its operations and the Board anticipate that it will have sufficient cash to cover these reduced operations for a period of time. The Board intend also to seek a suitable acquisition for the Company." Further announcements will be made as appropriate. Enquiries Chariot (UK) plc Tel: 0870 380 2121 Matthew Waterman Noble & Company Limited Tel: 0207 763 2200 Nick Naylor Nick Athanas This information is provided by RNS The company news service from the London Stock Exchange END DISBPMITMMABBIR
1 Year Chariot Chart |
1 Month Chariot Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions