YooMedia Plc
Disposal of "Dateline" Subsidiary
YooMedia Plc ("YooMedia" or "the Company"), the AIM-traded interactive media
and games group announces the disposal of YooMedia Dating Group Limited which
trades under the brand name Dateline.
Dateline operates an online and offline dating business, and has seven
employees. The buyer is a consortium funded by Arc Management Holdings plc and
Capital Ideas plc and is acquiring the entire issued share capital for £
250,000.
Earlier this year another dating subsidiary trading under the brand "Avenues"
was committed to receivership. The disposal of Dateline now marks the final
stage in YooMedia's exit from the dating sector and the further progression in
management's policy of restructuring and repositioning the Group's operations
for future growth.
Neil MacDonald, CEO, YooMedia Plc, commented:
"Our Chairman's statement in June discussed our efforts in the past year to
change our operations to enable us to focus exclusively on those aspects of the
business which will produce long term sustainable returns for shareholders.
"YooMedia's exit from the dating sector enables management to focus the
Company's resources on the growing digital market. This is a better commercial
fit with YooMedia's technical expertise, its existing product range and
represents a higher margin sector. The Company's strategic realignment now
leaves YooMedia better placed to grow its market share whilst maximising
profits."
13 December 2007
Enquiries:
YooMedia PLC +44 (0) 207 462 0870
Neil MacDonald, CEO
Nexus Financial Ltd +44 (0) 207 451 7068
Nicholas Nelson/John Mundy Nicholas.nelson@nexusgroup.co.uk
Seymour Pierce Limited +44 (0) 207 107 8000
Mark Percy
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.