10th Jun 2011 07:00
10 June, 2011 Daily Mail and General Trust plc (`DMGT') Statement regarding George Little Management
In response to media speculation, DMGT confirms that it is reviewing the strategic alternatives with respect to its U.S. retail-focused events managed by George Little Management ("GLM").
GLM is a market-leading business-to-retail operation, including in its portfolio the flagship biennial New York International Gift Fair at the Jacob Javits center in New York. GLM's events provide essential in-person and online links between buyers and sellers in key retail sectors including apparel, giftware and jewellery.
The strategic review of GLM follows the conclusion that there is limited opportunity to leverage the GLM assets across the wider DMGT group and that we should focus our events activities onto fewer areas with exceptional opportunities such as our portfolio of Energy shows and our activities in the Middle East both of which are growing strongly and we are excited at the accelerating pace of the launch programme.
DMGT has appointed Jordan, Edmiston Group, based in New York, as our financial advisors for this process.
DMGT will make a further announcement when appropriate.
Enquiries: Nicholas Jennings, Company Secretary, DMGT 020 7938 6625
Susanna Voyle/ Matthieu Roussellier, Tulchan Communications 020 7353 4200
Daily Mail and General Trust plc Northcliffe House, 2 Derry Street, London, W8 5TT Tel 020 7938 6000 Fax 020 7938 4626 www.dmgt.co.uk Registered in England and Wales No. 184594 Not for public release until 7am on 10th June, 2011
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