Completion of Disposal

RNS Number : 2974G

Asia Digital Holdings PLC

28 June 2012

 



Press Release

27 June 2012

 

 

Asia Digital Holdings plc

("Asia Digital", "ADH" or "the Group")

Completion of the disposal of selected assets of DGM Asia Pacific Pte Ltd ("DGM Singapore Assets")

Further to the announcement on 13 June 2012, Asia Digital Holdings plc (AIM:ADH), an independent online marketing group, announces that the disposal of certain DGM Singapore Assets to Flow Digital Pte Limited ("Flow"), a subsidiary of Omnicom Group, has now been completed.

On completion, the gross revised consideration due to ADH was US$200,000, approximately GBP £128,000).

Actual cash paid to ADH was GBP 75,352 after Flow retained certain amounts relating to prepayments made previously to ADH by transferring clients, employee costs relating to transferring employees to be settled by Flow and certain ADH legal fees on the transaction settled directly by Flow at ADH's request.

- Ends -

For further information, please contact:

Asia Digital Holdings plc
Adrian Moss, Chief Executive	[e-mail]
www.adhplc.asia

Northland Capital Partners
Gavin Burnell / Rod Venables	Tel:  [phone]
Katie Shelton (Corporate Broking)

Abchurch Communications
Joanne Shears/Oliver Baxendale	Tel: [phone]
	www.abchurch-group.com

 

END

 

 

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