9th Aug 2005 07:00
RAM Investment Group PLC09 August 2005 Embargoed for release: 07:00am, 9 August 2005 RAM Invests in Media Company And Related Party Transaction RAM Investment Group plc (RAM) the AIM listed investment company, todayannounces that it has agreed heads of terms to invest in Parallel Media Groupplc (PMG). AIM quoted PMG is a global media, marketing and sports management company. Thecompany owns one of the largest asset portfolios in golf and is one of thebiggest names in global professional golf. Key territories of the businessinclude China, South East Asia, the Spanish speaking Americas, and Europe wherePMG owns extensive commercial and broadcast rights. RAM will be investing £500,000 in PMG which will be in the form of a convertibleloan for a 24.8% fully diluted shareholding. Nicholas Lebetkin, Laurence Selman and Edward Adams, the Directors of RAM, aremaking a convertible loan to RAM of £375,000 (the "Loan") and accordingly theLoan is a related party transaction under the AIM Rules. There is no Director ofRAM, therefore, who is not involved in the related party transaction, and so itis the Company's Nominated Adviser, Beaumont Cornish Limited, who considers thatthe terms of the transaction are fair and reasonable insofar as the Company'sshareholders are concerned. The investment announced today provides a real opportunity for both companies totake advantage of the synergies that exist between them. RAM has a strongportfolio of sporting related investments, (including a joint venture withFIFPro to host the world's first football awards) and PMG has extensiveexperience in global sports sponsorship, marketing and media. This year PMG announced a multi-year sponsorship deal with Swiss bank UBS forthe title sponsorship of the Hong Kong Open and launched a number of newprofessional golf tournaments around the world, including Enjoy Jakarta TheStandard Chartered Indonesia Open, TCL Classic in China, the Samsung LadiesMasters Singapore, the Thailand Ladies Open and the inaugural Kazakhstan Open.Significantly for RAM, PMG has a number of new events currently in negotiations,to be announced when finalised, providing a solid platform for both companies togenerate further growth. Daivid Ciclitira, Group President & CEO of PMG, said, "RAM's investment in PMG will open up new doors for both Companies. We arealready working on two specific projects, details of which will be announcedshortly. 2005 has been an exciting year for PMG and as our half yearly resultsshow today there has been a dramatic improvement in the Company's bottom line. Iconfidently expect our relationship with RAM to further fuel the Company'sgrowth." Nicholas Lebetkin, Chief Executive of RAM Investments, said, "Investing in Parallel Media Group allows RAM to explore further projects in thesporting industry and strengthen our investment portfolio. We believe that PMGhas the ability to be highly profitable in the near future. With PMG's expertisein sponsorship, media and golf, we are looking forward to a fruitfulrelationship where both parties can trade on their strengths, thus bringing realadditional value to our shareholders. " - ENDS - For information please contact: Tracy Lloyd-Watts / Savita Tulsiani 0207 053 6000Beattie Communications Laurence Selman, Director 0208 349 2001RAM Investment Group plc Roland Cornish / Felicity Geidt 020 7628 3396Beaumont Cornish Limited Notes to Editors About RAM Investment Group PLC RAM Investment Group is an AIM listed investment company that focuses oninvestment opportunities in the media and leisure sector, specifically seekinglow risk, high return investments. About FIFPRO Is the worldwide representative organisation for all professional players. Atthe moment 40 national players' associations are members of FIFPRO. It is ademocratic player driven organisation that actively seeks to promote theindividual and collective interests of the players. FIFPRO is the exclusive collective international voice of the world'sprofessional footballers. It is a truly global organisation with members inAfrica, South America, North America, Scandinavia and Eastern and WesternEurope. About Parallel Media Group (PMG) AIM quoted Parallel Media Group plc ("PMG") is a global media, marketing andsports management Company. The Company owns one of the largest asset portfoliosin Golf and has organised and promoted over 100 professional tournaments sinceits inception 18 years ago. The key areas of the business are in Asia,particularly in China and South East Asia, and in the Spanish speaking Americas,and Europe where PMG owns extensive commercial and broadcast rights. PMG has served a diverse range of clients over the years and continues to deviseunique and innovative mediums to better serve the demands of global brandsthrough event creation and marketing platforms. Current clients include UBS,Adidas Taylor Made, Carlsberg, Malaysia Tourism, Robe di Kappa, TelekomMalaysia, Samsung, Standard Chartered and TCL. The company is currently organising and promoting tournaments including The UBSHong Kong Open, The Singapore Masters presented by Carlsberg, The Enjoy JakartaStandard Chartered Indonesian Open, The Malaysian Open, The TCL Classic, SamsungLadies Masters Singapore, The Thailand Ladies Open and the inaugural KazakhstanOpen in Almaty.In Latin America, PMG is the exclusive commercial rights holder and partner tothe Tour de las Americas, (TLA) the men's professional golf tour of Central /South America and the Caribbean. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
RAM.LLive Company