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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mkm Group | LSE:MKM | London | Ordinary Share | GB00B013MJ08 | ORD 0.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMKM RNS Number : 3787Y MKM Group PLC 02 September 2009 MKM GROUP PLC Sale of majority shareholding in Promodus Limited MKM Group plc ("MKM" or the "Company") today announces the sale of 90% of the issued share capital of Promodus Limited ("Promodus"), its London-based marketing and communications subsidiary, to Stripe Marketing Limited ("Stripe Marketing"). The Company will retain a minority interest of 10% in Promodus following the sale. MKM will receive a consideration of 24,743 ordinary GBP1 shares in Stripe Marketing, representing 8% of the issued share capital of Stripe Marketing, and the provision of design and office services to MKM for a limited period to a value of GBP32,620. Stripe Marketing is a recently established private company which has not yet filed any audited accounts. According to the terms of the sale and purchase agreement, the sale will be completed two business days after the transfer to Stripe Marketing of 47.5% of the issued share capital of another company which is expected to be completed within the next two weeks. The last audited accounts of Promodus for the year ended 31 December 2007 recorded a profit before tax of GBP125,902. However, the Promodus unaudited management accounts recorded a loss before tax in the fifteen months ended 31 March 2009 of GBP122,262. The unaudited net asset value of Promodus on 31 March 2009 was GBP5,074. MKM intends to retain its shareholdings in Promodus and Stripe Marketing as medium-term investments.The Company believes that this new structure will facilitate the further development of the Promodus business and will deliver a higher return to the Company than the existing ownership structure. It will also allow the management of MKM to focus more closely on its remaining UK business trading as The Leapfrog Group and Airport Angel. For further information, please contact: +----------------------------------------------+-------------------------+ | MKM Group Plc | T: 0161 877 1112 | | Brian Smillie, Chief Executive | | | Matthew Toynton, Finance Director | | | | | +----------------------------------------------+-------------------------+ | WH Ireland Limited | T: 0161 832 2174 | | Robin Gwyn | | | | | +----------------------------------------------+-------------------------+ This information is provided by RNS The company news service from the London Stock Exchange END DISUURBRKORKRRR
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