Disposal & Cancellation

RNS Number:9805P
Springdoo PLC
12 March 2008

                                 Springdoo plc

                                (the "Company")

                            Disposal & Cancellation


Further to the announcment on 11 March 2008, the Company confirms that it has
dispatched a circular today to convene a general meeting of shareholders at
11.00 a.m. on 4 April 2008 to approve the disposal of the freehold land located
in Carlisle owned by the Company and the cancellation of the admission of the
Company's shares to trading on AIM. A copy of the circular will be available
from the Company's website, www.springdoo.com.

The Disposal is conditional upon both the passing of the resolution at the
General Meeting, which is to be passed as part of a special resolution, and the
Company obtaining approval of landscaping drawings from the local planning
authority.

The Directors believe that following completion of the Disposal the interests of
the Company will be best served as a private company without having to implement
an investing strategy as would be required under the AIM Rules following the
Disposal. The Board is therefore proposing, as part of the special resolution,
to cancel the admission of the Company's shares to trading on AIM.

In addition, the annual costs associated with Admission and the Company's status
as a public limited company is approximately £65,000. In the opinion of the
Directors, the costs of being a public company and of having the Company's
shares admitted to trading on AIM after completion of the Disposal are not
justifiable and the interests of the Company would be best served by reducing
these costs.

If shareholders approve the Cancellation at the General Meeting the expected
date for the proposed Cancellation is 8am on 14 April 2008.

No trading facility will be put in place to enable shareholders to effect
transactions in the Company's Ordinary Shares from Cancellation.

In addition to the Disposal, the Company has disposed of the entire issued share
capital of Springdoo NZ and all the assets required for the website operated by
Springdoo NZ to a third party. The consideration for the disposal of Springdoo
NZ is 250 shares in User Generated Broadcasting Limited, a private limited
company. It is the intention to hold this shareholding as a passive investment
by the Company.


For further information please contact:

Lee Dudack, Springdoo plc                            Tel: [phone]
David Youngman, WH Ireland Ltd                       Tel: [phone]


Definitions


"Cancellation"                                the proposed cancellation of Admission

"Carlisle Property"                           the freehold land registered at the Land Registry with title
                                              absolute under title numbers CU226126, CU49985, CU193098 and
                                              CU223363 and known as land at Bridge Street and Bridge Lane,
                                              Carlisle

"Disposal"                                    the disposal of the Carlisle Property pursuant to the terms
                                              of the disposal agreement

"General Meeting"                             the general meeting of the Company, convened for 11.00 a.m.
                                              on 4 April 2008, and any adjournment thereof, notice of
                                              which is set out at the end of this document

"Springdoo NZ"                                Springdoo Limited NZ, a wholly owned subsidiary of the
                                              Company


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