Rank Group PLC
21 July 2006
For immediate release 21 July 2006
The Rank Group Plc
Disposal of Deluxe Media Services' UK CD replication business
The Rank Group Plc ('Rank') announces that Deluxe Media Services has today
completed the sale of its UK CD replication business ('the Business'), located
in Blackburn, Lancashire, to a subsidiary of Entertainment Distribution Company
LLC ('EDC') for a net cash consideration of approximately £3 million including
cash in the Business at completion retained by Rank.
As part of the transaction, EDC has acquired 100% of the issued share capital of
Deluxe Global Media Services Blackburn Limited, the holding company for the
Business. The cash consideration received by Rank is subject to certain
post-closing adjustments for working capital.
The disposal announced today, together with the disposals of Deluxe Media
Services' UK DVD replication and UK distribution businesses to Sony DADC that
were announced on 30 June, complete Deluxe Media Services' exit from all of its
UK businesses.
Rank is currently in discussions with a number of third parties for the disposal
of the remaining assets of Deluxe Media Services. These assets comprise the
continental European distribution businesses in Benelux, France, Italy, Spain
and Scandinavia and the US DVD replication and distribution businesses.
About Deluxe Media Services
Deluxe Media Services is an international manufacturer and distributor of
optical media on behalf of content owners in the video, music, games, software
and information industries.
About EDC
EDC, a subsidiary of Glenayre Technologies, Inc., is the largest provider of
pre-recorded entertainment products, including CDs and DVDs, for Universal Music
Group, the world leader in music sales. Headquartered in New York, EDC's
operations include manufacturing and distribution facilities throughout North
America and in Hanover, Germany.
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Enquiries:
The Rank Group Plc Tel: +44 (0)20 7535 8031
Dan Waugh, Director of Investor Relations Mobile: +44 (0)7799 581763
This information is provided by RNS
The company news service from the London Stock Exchange
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