Yoomedia PLC
26 June 2006
YooMedia plc / Ticker: YOO / Index: AIM / Sector: Media
26 June 2006
YooMedia plc ('YooMedia' or the 'Group')
Update re Banking Facilities
Board Change & Notice of AGM
YooMedia plc, the AIM-traded interactive media and games group, is pleased to
announce that, as referenced in Note 1 of the financial accounts announced on 26
May 2006, the Group is in advanced negotiations with regards to alternative
banking arrangements, and has received a proposal to extend its current banking
facilities for a further period until 21 July to allow the new arrangements to
be finalised. The directors believe that these new arrangements will be agreed
on a basis more favourable than those currently existing.
With regards to the Board, Non Executive Director Leo Noe is stepping down to
enable him to fulfil his extensive business commitments beyond YooMedia's
activities. He remains a major shareholder in the Company, is committed to
helping develop the business and will remain active on an advisory level. The
Board would like to take this opportunity to thank Leo for his support and help
in restructuring YooMedia.
The Company is holding its Annual General Meeting on 24 July 2006 at its office,
Northumberland House, 155 - 157 Great Portland Street, London, W1W 6QP at 10:30
am.
* * ENDS * *
Contacts:
YooMedia plc
Neil MacDonald, Group Managing Director
Tel: 020 7462 0870
St Brides Media & Finance Ltd
Isabel Crossley
Tel: 020 7242 4477
Notes on YooMedia plc:
YooMedia is one of the fastest growing interactive entertainment companies in
the UK. Essentially, it develops and delivers premium interactive content and
services to households and individuals via TV, the web, telephony and mobile
phones. It has four main divisions:
• YooMedia Dating - manages dating brands including Dateline and
Avenues from over 20 locations throughout the UK. Operates across traditional
media, digital TV, internet and mobile phones.
• YooMedia Gambling & Games - interactive fixed odds, play for fun
casino and poker related games services for digital TV, the web and mobile
phones. Brands include Channel 425, while it also manages YooPlay, the only
interactive games channel found on all four Digital TV platforms in the UK and
Avago, which was established by YooMedia and is now managed on behalf of Gala
Group.
• YooMedia Enhanced Solutions (YES) - delivers interactive content
that enhances consumer and audience experiences. Customers include the BBC,
Nestle, Celador, William Hill, Channel 4, The Cartoon Network and HR Owen.
• YooMedia Public Sector - provides digital solutions/media
services to leading public sector organisations including the NHS Direct
Interactive TV service for the Department of Health, the Learning and Skills
Council TV Kickstart service and a range of local authority TV services.
The Group's experienced management team includes: Chairman, Dr. Michael
Sinclair, who holds a number of directorships in both the UK and the USA having
previously founded Lifetime Corporation; and Managing Director, Neil MacDonald,
whose career spans 11 years in multimedia and interactive sectors plus a further
19 years in the retail industry.
This information is provided by RNS
The company news service from the London Stock Exchange
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