19 August 2009
Interactive Publishing plc
('Interactive Publishing', 'the Company' or 'the Group')
Acquisition of Marine Media Limited and Issue of Warrants
ACQUISITION OF MARINE MEDIA LIMITED
Interactive Publishing (PLUS: INTP), the PLUS-quoted consumer publishing company, is pleased to announce the
acquisition from Sterling Securities International Limited of Marine Media Limited, which is the holding
company for the specialist consumer title, "Sailing Today" and the related trading assets of the business.
The consideration for the acquisition is approximately £200,000, to be satisfied by the allotment to Sterling
Securities International Limited of 3,333,333 ordinary shares in the Company credited as fully paid at a price
of 1.5 pence each and a convertible loan note of £150,000. The convertible loan note bears interest at 6% per
annum with repayments by monthly instalments of £10,000 commencing on 31 January 2010. The loan note can be
converted into equity at a price of 1.5 pence per share at the holder's option at any time prior to redemption.
Marine Media Limited is a new company set up for the purpose of holding and conveying the assets and trade of
the title Sailing Today, which previously traded as a division of a larger publisher. Consequently, there is no
historic financial information available for the division, although the Directors expect Marine Media Limited
to generate around £800,000 of turnover per annum via newsstand sales, subscriptions and advertising. The
business is expected to contribute immediate cash flow to the Group. The purchase price of £200,000 almost
wholly represents goodwill paid for the business.
Sailing Today is committed to providing the most authoritative, relevant and up to date information on all
aspects of sailing. Packed with in-depth reports and independent analysis, Sailing Today's sharp focus is
harnessed to an unpretentious, entertaining and practical approach enhanced by superb images and cutting-edge
graphics; written for cruising enthusiasts by cruising enthusiasts.
Justin Sanders, CEO of Interactive Publishing said today,
"The publishing market as a whole for single title publishers has become a tough environment with the downturn
in global advertising and the limited budgets to push into the new media age. The publishing benefits that
comes from being part of a dynamic group, Marine Media will develop and add new revenue streams. Interactive
publishing hope that this division will diversify quickly and add to the impressive niche market publication
that is Sailing Today."
ISSUE OF WARRANTS
The Company also announces the issue of 3,000,000 warrants to its Director Peter Jay, as remuneration in
respect of efforts associated with the acquisition of Marine Media Limited and recent fundraisings. The
warrants have an exercise price of 1.5 pence and have been issued to Mr Jay's trading business Meze LLP.
Following this issue of warrants, Mr Jay has a holding of 1,508,100 ordinary shares in the Company which
represents 0.86% of the voting rights in the issued ordinary share capital of the Company and a total of
3,000,000 warrants over ordinary shares of 0.25 pence each in the Company, exercisable at a price of 1.5 pence
over the period to 19 August 2011. This interest relates to a legal and beneficial holding.
The Company now has 175,064,999 ordinary shares of 0.25 pence each with one voting right each in issue.
The Directors of Interactive Publishing plc accept responsibility for this announcement.
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CONTACT DETAILS:
Interactive Publishing plc
Justin Sanders Tel: 020 7608 6300
SVS Securities Plc - PLUS Corporate Adviser
Simon Fox / Alexander Brearley Tel: 020 7638 5600
SVS Securities Plc - Broker
Ian Callaway / Alexander Mattey Tel: 020 7638 5600
Interactive Publishing Plc
Notes to editors:
Interactive Publishing plc floated on the PLUS market on 20 February 2008 for the purpose of making investments
in the publishing and marketing services sectors and with the objective of producing long-term capital growth.
Since its Introduction the directors of the Company have been aggressively expanding the Company's portfolio
through the acquisition of magazine titles primarily in the consumer lifestyle sector.
Interactive Publishing Plc