Re:Expected news..19 Apr 2010 10:22
The Board previously announced on 15 March 2010 that it was conducting a
strategic review of its activities. This exercise has now been completed and the
Board is pleased to announce its intention to make a return of capital to its
Shareholders of up to 35p per IMAC Share. In addition, the Board is proposing
certain changes to its investing policy, Articles and Investment Management
Agreement which, they believe, when combined with the return of capital, are
appropriate given the current economic climate and, in particular, the current
state of the media market. Accordingly, the Company posted a circular (the
"Circular") to its Shareholders on 17 April 2010 seeking, inter alia, approval
at an EGM in relation to unanimously recommended proposals to change its
Investing Policy, Articles of Association, Investment Management Agreement and
return of capital to shareholders.