Clarification Re: YouCan Group Announcement

RNS Number : 9216F

Brainspark PLC

22 June 2012

 



Embargoed until 7am                                                                                                            22 June 2012

Brainspark Plc

("Brainspark" or "the Company")

 

 

Clarification on You Can Group Announcement

The Company wishes to clarify that the EUR150,000 capital increase referred to in the 15 June announcement is the notional value attributed for accounting reasons to the capital increase in You Can Group S.r.l. and based on the current share price of the Company and not the value attributed by the Board of Brainspark to the stake in You Can Group (representing approximately 15.5% of the share capital) acquired though the issue of 3,440,000 new Brainspark ordinary shares. For reference and as announced on 1 June 2012, for the year ended 31 December 2011, You Can Group S.r.l. recorded sales of EUR2 million and EBITDA of EUR0.3 million.

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For further information please contact:

Brainspark plc                                                                                                       [phone]

Alfredo Villa, Executive Chairman

Cersare Suglia, Chief Executive

Westhouse Securities                                                                                 [phone]

Antonio Bossi

Jonathan Haines

Leander PR                                                                                                 [phone]

Christian Taylor-Wilkinson

About Brainspark Plc

Brainspark plc (AIM: BSP) is an AIM listed investment company pursuing a dynamic strategy to create a comprehensive portfolio of companies primarily encompassing the interactive media, leisure, entertainment and financial services sectors mainly in Italy but also other European countries. The Company may be either a passive or active investor and Brainspark's investment rationale ranges from acquiring minority positions with strategic influence through to larger controlling positions.

 

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