16th May 2012 07:00
Media Corporation Plc('Media Corp' or the 'Company')
Termination of discussions with Gaming Media Group Limited
Further to the announcement of 16 April 2012 about the proposed acquisition of Gaming Media Group Limited ("GMG") the directors announce that the board has decided not to proceed with the acquisition.
This has no bearing on the merits of GMG but rather, as announced previously, the board was also looking at another acquisition which is not a reverse takeover under the AIM Rules and, as such, is considered a preferable deal for the shareholders at this juncture. Further details will follow.
As a result of the termination of the discussions with GMG the suspension of trading in the existing ordinary shares in the Company will be lifted and trading will recommence at 7:30am today.
Contacts:
| Media Corporation Plc | Tel: +44 20 7618 9000 | |||
| Justin Drummond - Chairman | ||||
| Nilesh Jagatia - Group Finance Director | ||||
| Northland Capital Partners Limited | Tel: + 44 20 7796 8800 | |||
| Luke Cairns / Rod Venables (Nominated Adviser) | ||||
| Katie Shelton (Joint Broker) | ||||
| XCAP Securities | Tel: + 44 207 101 7070 | |||
| Jon Bellis / Karen Kelly (Joint Broker) | ||||
| Bishopsgate Communications | Tel: + 44 20 7562 3350 | |||
Copyright Business Wire 2012
Related Shares:
MDC.L