CSS Stellar PLC
29 October 2001
CSS Stellar PLC
Acquisition of performance, distribution and broadcasting rights
Application has been made for 129,629 new ordinary shares of 50p each ('New
Ordinary Shares') to be admitted to the Alternative Investment Market ('AIM').
The new ordinary shares were issued to satisfy the consideration payable for
the acquisitions of performance, distribution and broadcasting rights.
CSS Stellar plc acquired the entire share capital of Drivecircuit Limited, a
company founded in June 2001 to hold the exclusive rights to present live
performances by Dame Shirley Bassey in the United Kingdom, Australia and the
USA until 30 June 2004, for a total consideration of £200,000. The
consideration was satisfied by the issue of 74,074 New Ordinary Shares.
In addition, CSS Stellar acquired the entire share capital of Michael
Parkinson Enterprise Limited ('MPEL') for an initial consideration of £150,000
plus a maximum deferred cash consideration of £500,000, subject to MPEL
achieving certain agreed post-tax profit targets during the ten-year period to
1 January 2011. MPEL holds the exclusive rights to distribute and broadcast
the Parkinson programmes produced by the BBC and exploit rights derived from
other television programmes produced by Michael Parkinson throughout
Australia, New Zealand and South East Asia. The initial consideration of
£ 150,000 was satisfied by the issue of 55,555 New Ordinary Shares.
The Admission of the 129,629 new ordinary shares is expected and dealings are
expected to commence on Friday, 2 November 2001.
Enquiries:
Sean Kelly, CSS Stellar Tel: 020 7907 4520
sean.kelly@css-stellar.com
29 October 2001
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