1st Oct 2007 07:01
Future PLC01 October 2007 1 October 2007 FUTURE PLC Disposal of Future France S.A.S. Future plc (LSE: FUTR), the international special-interest media group, todayannounces that on 28 September 2007 it sold the entire issued share capital ofFuture France S.A.S. ('Future France') to WM7 for a consideration of up to€18.0m, of which €13.2m is payable in cash and up to €4.8m is payable in 2010dependent on the achievement of certain revenue targets by Future France. WM7 is a company jointly owned by a Paris-based financial institution (LMBO) andby certain members of the management team of Future France including Saghi Zaimiand Jane Wray, respectively the current Managing Director and Finance Directorof Future France. Future France publishes 18 monthly magazines and employs 171 staff. For the yearended 30 September 2006 Future France reported revenue of €35.6m, EBITAE of€1.7m and a pre-tax loss of €0.6m. At the date of disposal the assets of Future France included net cash balancesof approximately €8m which transfer with Future France at completion. The Group will continue to license seven of its titles to Future France. The net disposal proceeds will be used to reduce the level of bank debt andFuture plc will continue its stated strategy to invest in English-languagecontent only. Ends About FutureFuture plc is an international special-interest media group. Founded in 1985 with one magazine, today it creates over 180 special-interest publications, websites and events, with strong portfolios in the technology, games, music, automotive and sports sectors. Over 130 international editions of Future's magazines are published under licence by publishing partners in 30 other countries around the world. Future employs around 1,300 people worldwide. The company is listed on the London Stock Exchange (symbol FUTR). Enquiries: Future:Stevie Spring, Chief Executive Tel: 020 7042 4007John Bowman, Group Finance Director Tel: 020 7042 4031Vicky Bacon, Head of Group Communications Tel: 020 7042 4033 Hogarth Partnership:James Longfield / Ian Payne Tel: 020 7357 9477 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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