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 |
---|---|---|---|---|---|
Expomedia Grp | LSE:EXP | London | Ordinary Share | GB0031056673 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:3819Z Expomedia Group PLC 02 July 2007 2 July 2007 EXPOMEDIA GROUP PLC ("Expomedia" or "the Group") UPDATE ON CORPORATE REALIGNMENT The Boards of both Expomedia and Telegraaf Media Groep ("TMG") jointly announce today the termination of Telegraaf Expomedia Events ("TE2"), a Joint Venture ("JV") established by both companies in 2004. The termination is due to the fact that the combination of activities of the Joint Venture turned out to be financially non-viable. Also this decision follows Expomedia's previously announced policy of focusing on its core markets of Russia, India, Poland, UK and Germany. KEY POINTS * TMG remains a committed 20% shareholder in Expomedia * Fred Arp remains on the Board of Expomedia * News follows Expomedia's announced 2006 realignment strategy * TMG will now take full ownership of the remaining assets of TE2 * TE2 originally established to focus on exhibitions in Holland Today's decision to terminate the JV follows the Board's decision of last year to concentrate its forward activities on its aforementioned key markets. Shareholders should note that TMG remains a committed and supportive 20% shareholder in Expomedia and, Fred Arp, CFO of TMG, will remain as a Director of Expomedia. TMG will now take full ownership of the remaining assets of TE2, originally established to focus on the organisation of exhibitions in Holland, and as part of the deal, loans taken by TE2 to fund the acquisition of assets, will be taken over in full by TMG. Due to the sensitive nature of the JV, financial details have not been disclosed. Commenting on today's news, TMG's spokesperson, Fred Arp, stated: "Our relationship with Expomedia has been invaluable in establishing a base in, and an understanding of, the exhibition market. We fully support the change in strategy by Expomedia, as they are clearly focusing on the markets where they can make the best return. "We remain a committed shareholder of Expomedia for the foreseeable future and look forward to further strengthening our relationship moving forward." Mark Shashoua, Chief Executive of Expomedia, added: 'I would like to thank TMG for contributing to the success of the ventures established. At the time of the Group's March results, I stated that the foundations for future growth of Expomedia's core operations lay in its key markets of the Russia, India, Poland, UK and Germany Today's news is an important step in continuing realignment of the business. "The Board very much looks forward to building on the solid relationship established to date between the two companies." --ENDS-- Enquiries: Expomedia Group Plc Tel: 020 8386 0070 Mark Shashoua Bishopsgate Communications Ltd. Tel: 020 7562 3350 Dominic Barretto Sophie Davis Charles Stanley Securities Tel: 020 7149 6000 Mark Taylor Freddy Crossley This information is provided by RNS The company news service from the London Stock Exchange END JVEQKLFLDQBEBBD
1 Year Expomedia Chart |
1 Month Expomedia 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