BONH.L Regulatory News (BONH)

2 Feb 2007 08:00

Charterhouse Communications PLC02 February 2007 CHARTERHOUSE COMMUNICATIONS PLC2 FEBRUARY 2007 CHARTERHOUSE COMMUNICATIONS PLC ("Charterhouse" or the "Company") DISPOSAL OF ASSET The Company announces that on 1 February 2007 it agreed the sale of itsmagazines What Investment, What Investment Trust and associated websites toVitesse Media plc, the AIM listed media company, for cash consideration of£626,000 (less £126,000 for subscriptions paid in advance), payable on thecompletion of the placement of Vitesse Media plc shares, anticipated to be on orabout 7 February 2007. Together these assets comprised the "What Investment assets" of the Company.What Investment magazine is a monthly magazine aimed at a broad range of peopleseeking advice on personal finance matters. What Investment Trust magazine isaimed specifically at those seeking advice on investment trusts.In the latest management accounts for the seven months to 31 December 2006, the"What Investment assets" contributed £88,000 to the Company. The Board will use the proceeds of this disposal to further reduce the Company'scurrent bank debt, in line with the Board's strategy of reducing its level ofdebt, as outlined in the Chairman's statement and Directors' Report accompanyingthe accounts for the year ended 31 May 2006. The disposal of the "WhatInvestment assets" follows the disposal of the "IRS assets" for £185,000 asnotified on 16 January 2007. This information is provided by RNS The company news service from the London Stock Exchange