Ingenious Media Active Capital Ltd Sale of Brand Events Holdings Ltd (9190P)

TIDMIMAC

RNS Number : 9190P

Ingenious Media Active Capital Ltd

07 October 2013

For immediate release

7 October 2013

Ingenious Media Active Capital Ltd

("IMAC" or the "Company")

Sale of Brand Events Holdings Limited ("Brand Events")

The Board of IMAC is pleased to announce that it has today sold its entire 69.5 per cent. interest in Brand Events ("Shares") and assigned its holding of Brand Events loan notes ("Loan Notes"), other than a retained holding of GBP1.5 million Loan Notes, to Christopher Hughes ("Purchaser"), a director of Brand Events ("Disposal").

The consideration comprises GBP1 million in cash of which GBP500,000 is payable on completion and the balance within six months. In addition, the Purchaser has the option to acquire IMAC's retained holding of Loan Notes for the nominal value of GBP1.5 million plus any accrued and unpaid interest. The retained Loan Notes will otherwise become repayable by Brand Events to IMAC in 2 years. The maximum payable by the Purchaser for the Shares and the Loan Notes therefore amounts to GBP2.5 million in aggregate. The net book value of IMAC's investment in Brand Events (comprising the Shares and the Loan Notes) amounted to GBP2.4 million as at 31 March 2013, the date of the last published balance sheet.

Brand Events is a leader in the consumer exhibitions market and Brand Events Limited, its wholly-owned trading company, has established a strong reputation within the UK for successfully launching new consumer shows including Top Gear Live and the Taste Festivals (which were sold to IMG in February 2013 for GBP5 million). For the year ended 31 March 2012, Brand Events reported an audited loss before taxation of GBP1.15 million. Brand Events total assets as at the same date amounted to GBP9.2 million and as at 31 March 2013, unaudited total assets amounted to GBP1.6 million.

IMAC is a closed-ended, Guernsey-registered investment company which invests predominantly in unquoted media and entertainment companies. IMAC is managed by Ingenious Ventures, the private equity division of investment and advisory group, Ingenious. IMAC's amended investing policy is to focus on realising its existing portfolio of investments return where possible the proceeds of any disposals to shareholders.

IMAC retains its portfolio investments in Whizz Kid Entertainment Limited, brandRapport Group and Review Centre Limited.

The Disposal is a Related Party Transaction under the AIM Rules as the Purchaser, Christopher Hughes, is a director of Brand Events, a subsidiary of IMAC. The Board of IMAC believe, having consulted with the Company's Nominated Adviser, that the terms of the Disposal are fair and reasonable insofar as all shareholders are concerned.

IMAC

Patrick McKenna/ Patrick Bradley

Tel: [phone]

Beaumont Cornish Limited (Nominated Adviser and Broker)

Michael Cornish

Tel: [phone]

Powerscourt Group (PR Adviser)

Justin Griffiths & Carmen Murray

Tel: [phone] / [e-mail]

A copy of this announcement is available on the Company's website at www.imaclimited.com

About IMAC:

IMAC is a closed-ended, Guernsey-registered investment company, which was admitted to AIM in April 2006, raising GBP150 million. Its investment policy is to invest in an actively-managed portfolio of holdings (typically between GBP5 million and GBP25 million in size) in predominantly unquoted media and entertainment companies with an enterprise value of between GBP10 million and GBP100 million. IMAC's activities are managed by Ingenious Ventures, the private equity division of Ingenious.

About Ingenious:

Ingenious is a market-leading financial services group providing investment and advisory expertise operating through four divisions. Ingenious is one of the leading investors in the UK's creative industries and was founded by its Chief Executive, Patrick McKenna in 1998.

Ingenious Ventures is the private equity division of Ingenious.

For further information, please visit www.ingeniousmedia.co.uk

ENDS

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