Trading Update and Board Appointments
28 Janvier 2010 - 9:03AM
UK Regulatory
TIDMSPMG
28 JAN 2010
SPORT MEDIA GROUP PLC
("Sport Media", "SPMG", "or "the Company")
Trading Update and Board Appointments
The Board of Sport Media Group plc (AIM: SPMG.L), the integrated multi-media
group that publishes the Sunday and Daily Sport newspapers and provides digital
content for internet and mobile channels, today reports the following trading
update:
The last five months trading to 31st December continued to be encouraging.
Although daily circulation of the newspaper failed to hold the peak levels of
August, they remained above budget and the Group traded profitably for the
period.
The Board is confident that 2010 will see profitability recover further.
The Board is also pleased to announce the appointment of Mr William Martin
Robinson ("Martin") (aged 51) as Non-Executive Deputy Chairman of the Group and
Robert Johnson ("Rob") (aged 54) as Executive Director. Both appointments are
effective immediately. It is anticipated that Martin will become Chairman of the
Group following the next Annual General Meeting.
Rob has held a senior position in the operational structure of the Company for
10 years. Rob is beneficially interested in 876,977 Ordinary Shares of 0.25p,
representing approximately 0.9 per cent. of the Company's issued share capital.
Commenting on the recent appointments, David Bailey, Chairman, said:
"The Company is delighted to welcome both Martin and Rob to the Board. I feel
confident that, with the extensive positions Martin has held, he will bring to
us a wealth of expertise and knowledge as we continue to grow the business and
move forward with the ever-changing economic climate. Rob's appointment to the
main Board, from the operating structure, further strengthens our commitment in
bringing value to shareholders".
The Board also today confirms that it expects to announce the Company's results,
for the 17 months to December 2009, in April.
The following information is disclosed pursuant to Rule 17, Schedule Two,
paragraph (g) of the AIM Rules:
In respect of Martin Robinson
Current Appointments:
A.C.A Limited
Plant Impact Plc
Braemar Group Plc
Regenesis Group Limited
Braemar UK Agricultural Land Plc
Previous Appointments:
Lloyd Street Holdings Limited
Chartered Accountants' Trustees Limited
F.C.A. Limited
Alec Finch Group Limited
Venturia Plc
Pro. Manchester Limited
The Private Capital Club Limited
The Muse Corporate Limited
Appointments at Time of Dissolution:
Peter Robinson Securities Limited
Henry Cooke Managed Services Limited
The Tritec Trust Limited
Exchange Information Systems Limited
Braemar Reversionary Property
In respect of Rob Johnson
Robert Johnson was the sole director of Tobyward Limited ("Tobyward"). Between
11 January 1996 and 29 March 1996 Tobyward was convicted of a number of criminal
offences pursuant to the Trade Descriptions Act 1968, the Consumer Protection
Act 1987, Article 3(2) Mail Order Transactions (Information) Order 1976, Section
23 of the Fair Trading Act 1973 and the Food Labelling Regulations 1984. These
indictments related to advertisements placed in various publications on behalf
of Tobyward during 1993 and 1994 regarding false trade descriptions applied to
products sold by Tobyward. Prosecutions were brought in the Shrewsbury Crown
Court, Shrewsbury Magistrates Court and the Wolverhampton Crown Court, and
Tobyward incurred aggregate fines and Court costs of approximately GBP158,000. A
liquidator was appointed to Tobyward on 26 April 1996. The liquidator was
appointed following a creditors voluntary liquidation on 26 April 1996 resulting
in an estimated deficiency to creditors of approximately GBP386,000. Tobyward was
subsequently dissolved on 2 March 1998.
Following the liquidation of Tobyward, the liquidator investigated the conduct
of Robert Johnson (as he is required to do by law) and on 17 November 1997,
Robert Johnson was disqualified, for a period of four years, from acting as a
director of a company by the Companies Court. However, as explained in the
Interactive World plc AIM Admission document, published on 3 May 2006 and
available on the Company's website, due to the circumstances of the
disqualification and the fact that he has never since been associated with a
failed company and that, in the other Directors' view, Robert Johnson behaved
properly since this time the other Directors and Daniel Stewart are of the view
that Robert Johnson is entirely appropriate to be an Executive Director of the
Company.
For further information, please contact:
Sport Media Group plc
David Bailey, Chairman
Andrew Fickling, Chief Executive Officer
Neil Robertson, Group Finance Director
Tel: + 44 (0) 7836 258 558
Tel: + 44 (0) 161 236 4466
www.sportmediagroup.co.uk <http://www.sportmediagroup.co.uk/>
Daniel Stewart & Company plc
Simon Leathers/Oliver Rigby
Tel: + 44 (0) 20 7776 6550
www.danielstewart.co.uk <http://www.danielstewart.co.uk/>
Notes to Editor:
On the 5th September 2007 Interactive World Plc acquired the entire issued share
capital of Sport Newspapers Limited by way of a reverse takeover. At this time
the name of the Company was changed to Sport Media Group Plc and the enlarged
issued share capital was admitted to trading on AIM.
The Group has grown to become a recognised UK branded tabloid newspaper,
publishing various titles including the Daily Sport and Sunday Sport. The Sport
titles are sold to approximately 39,000 retail outlets around the UK by a
network of wholesalers, both commercial and independent.
The Group's other activities include the sales of digital media content through
mobile telephones and via the internet.
[HUG#1378049]
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