9th Feb 2005 07:30
On-Line PLC09 February 2005 On-line plc ("On-line" or the "Company") Introduction of investee company to OFEX On-line owns 20% of Smoking Gun Entertainment Group Plc ("SGEG") which yesterdayannounced that it has applied to have its entire share capital of 50,000,000shares of 0.1 pence each to be traded on the OFEX market. It is expected thatadmission will be effective on 28 February 2005. No capital is to be raised onadmission and it is expected that the opening price will be in the region of 8p,valuing SGEG at £4 million and On-line's 20% holding at £800,000. Information on SGEG Smoking Gun Entertainment Group Plc ("SGEG") was incorporated on 7th February2005. After a share reorganisation involving its subsidiary Smoking Gun HoldingsLimited ("SGHL"), it is the 100% owner of the subsidiary. SGHL has traditionally been a funded (work for hire) developer for the likes ofgames publishers Infogames Entertainment, Akaei Plc and Just Flight Limited. The main product line of SGHL since 1999 has been PC based football managementstrategy games. In 2001 SGHL acquired exclusive licences to develop its PC gamesbased on the branding of Celtic FC and Rangers FC. Since then, SGHL has releasedtitles based on the branding of more than 40 UK football clubs. In 2004 the Company took the strategic decision to follow a self-funded, selfpublishing business model in order to increase the margins earned from each unitsold. SGEG now distributes its titles directly through the clubs own retailchannels (both club stores and official websites), and markets its titlesdirectly to football fans via match day programmes, official magazines andstadium advertising. SGEG is now looking to further develop its football strategy titles forconsoles, and online via the Internet. In addition, SGHL is developing a rangeof interactive DVD football quiz titles, which will also be sold through theclubs own retail channels. SGEG has plans to further distribute its footballquiz titles via mobile phones and the Internet. All IP in the proprietary technology developed by SGHL is vested within theCompany. For further information please contact :- Michael Hodges Chairman 020 7070 0946Francesca de Franco PR 020 7070 0932 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
OBC.L