21st Jul 2006 17:32
Tinopolis PLC21 July 2006 Tinopolis sells interest in Splash Media Ltd to founders Jane Lush and Fenia Vardanis, the founders and managing directors of SplashMedia Ltd are to acquire the 65% holding in Splash held by Tinopolis, thecompany announced today. Tinopolis acquired the holding following its takeover of The TelevisionCorporation in February 2006. TVCorp took a stake in the company when it wasoriginally set up by Jane and Fenia in December 2005. As a result of the sale,Tinopolis will be released from its obligation to provide any further workingcapital funding for Splash. Ron Jones, executive chairman of Tinopolis, said: "Following our acquisition of The Television Corporation we have decided toconcentrate on the core production brands: Mentorn, Sunset + Vine and Folio,which will deliver long-term revenue visibility for the group, and we aretherefore selling our stake in Splash back to its founders. We will continue toparticipate in programmes they have already developed, including a joint Splash/Sunset + Vine project, and wish Jane and Fenia every success in the future." Ends Contact: Mantra PR, Nick Bishop 020 7907 7800 / 07736 067190 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Cornish Metals