Treasury Stock
Media Corporation PLC
Media Corporation Plc
("Media Corp", the "Company" or
the “Group”)
Sale of Treasury Shares
Media Corp, a leading AIM quoted media and online gaming group, is
pleased to announce that it has today placed its entire holding of
29,102,728 treasury shares with institutional and other investors at a
price of 3 pence per share. The placing will raise £0.87 million for the
Company.
Of these shares, 15,102,728 have been placed with an existing private
investor in the Company for settlement on Thursday 11 February. The
remainder have been placed with new institutional and other investors.
Following the sale of the treasury shares, the Share Capital of the
Company is 296,186,389 Ordinary Shares of 1 penny each. The figure of
296,186,389 may be used by shareholders as the denominator for the
calculation by which they will determine if they are required to notify
their interest in, or a change to their interest in, the Company under
the FSA's Disclosure and Transparency Rules.
Justin Drummond, Chief Executive of Media Corp commented:
“Whilst the Group had significant cash of over £2.3 million as at 31st
December 2009, the additional funds raised will give the Group further
funds to pursue new acquisition opportunities.
“Having concluded and successfully integrated the acquisition of
Purple Lounge Limited in October 2009 we are now very well positioned to
pursue further earnings enhancing acquisitions in 2010. In addition, the
Group will make a profit of £0.16 million on its holding of the treasury
shares underpinning the original share buy back strategy.”
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Media Corporation Plc
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Tel: +44 20 7618 9000
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Justin Drummond - CEO
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Nilesh Jagatia - Finance Director
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Astaire Securities Plc
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Tel: + 44 20 7448 4400
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Lindsay Mair / Katie Shelton
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Bishopsgate Communications
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Tel: + 44 20 7562 3350
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Robyn Samuelson / Gemma O'Hara
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mediacorp@bishopsgatecommunications.com
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Threadneedle Communications
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Tel: +44 20 7653 9850
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Graham Herring / Josh Royston
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Notes to Editors:
Quoted on the AIM market of the London Stock Exchange, Media Corp is a
leading media and online gaming group.
The Group has two principal divisions:
Advertising Network - Formed in 1996, Eyeconomy specialises in mass
reach campaigns to up to 50 Million unique consumers per month via its
own proprietary ad-serving and tracking technology for clients including
AOL, Dell and American Express.
www.eyeconomy.co.uk
Website Publishing - Media Corp has a diversified publishing division
specialising in online media and gaming.
The impressive portfolio of websites includes a number of market leading
websites, such as www.purplelounge.com,
www.gambling.com,
www.onthebox.com,
www.sport.co.uk,
www.creditcardexpert.co.uk
and www.flightcomparison.co.uk.
Further information can be found on the company's website, at www.mediacorpplc.com
