11th Aug 2006 17:08
Core Business PLC (The)11 August 2006 PRESS RELEASEFor immediate release: 11 August, 2006 Ministry of Sound exercises share option in The Core Business The Core Business plc ("The Core Business" or 'the Company'), the innovativebeauty brand building business, announces today that Ministry of Sound, throughits ultimate holding company Nimbus Holdings Ltd, has elected to exercise itsoption to subscribe for shares in the Company. Ministry of Sound has subscribed for 2,119,822 ordinary shares in the Company atthe price of 4 pence per share, the equivalent of five per cent of the enlargedordinary share capital of The Core Business. Application has been made for theordinary shares to be admitted to trading on AIM on 14 August 2006. The share option was granted as part of a brand licensing agreement announced on29 June under which The Core Business is developing a range of male grooming andfemale beauty products for the music, entertainment and lifestyle brands,"Ministry of Sound" and "Hed Kandi". The Core Business Executive Brand DirectorMay Jennings is working closely with Ministry of Sound and Hed Kandi to developthe product ranges for launch in 2007. Stirling Murray, Chief Executive of The Core Business, said: "I am delighted that Ministry of Sound has decided to exercise its option tosubscribe for shares in the company. This is a powerful endorsement of The CoreBusiness and demonstrates a strong belief in our potential to deliver value forshareholders." ENDS For further information, please contact: The Core Business plcStirling Murray, Chief Executive 020 7483 4300www.thecorebusiness.co.uk Aquila Financial LtdPeter Reilly 020 7202 2601Vivienne Macey 020 7202 2602www.aquila-financial.com ARM Corporate FinanceNick Harriss 020 7 5120191 Notes to Editors The Core Business The Core Business was established in May 2004 by Stirling Murray to create,develop, launch and distribute personal care and beauty brands. It also providesconsultancy and brand management services. The Core Business listed on AIM in March 2006 under the ticker 'CORE' www.thecorebusiness.co.uk Ministry of Sound Ministry of Sound is one of the most widely-recognised names in the music,entertainment and lifestyle industries. The brand includes Europe's biggestindependent record label, international clubs and bars and a wide range ofbranded products including a top-selling consumer electronics range, fashion andaccessories. www.ministryofsound.com Hed Kandi Hed Kandi was established in 1999 as a record label specialising in house music,which has since developed into a lifestyle brand including merchandise, a radioshow and nightclub events across the UK and worldwide. www.hedkandi.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Tern