Character Regulatory News (CCT)

30 Jan 2006 15:04

Character Group PLC30 January 2006 Issued by Citigate Dewe Rogerson Ltd, BirminghamDate: Monday, 30 January 2006 IMMEDIATE RELEASE The Character Group plc ("The Group") Circular to Shareholders re: •Proposals for the Sale of the Digital Products Division of World Wide Licenses Limited ("WWL") •Notice of Extraordinary General Meeting •Notice of Annual General Meeting The Group announces that it will today be posting to Shareholders a Circularrelating to the proposed disposal of the Digital Products Division of WWL (the"Digital Business") as announced on 25 January 2006. The Digital Business owned by WWL is based in Hong Kong. Its key role is thedesign and development of digital interactive products for global distribution.WWL entered the digital camera market in June 2000, and has rapidly become asignificant supplier in this dynamic category, with its total shipment ofdigital cameras well in excess of two million units worldwide. In the financial year ended 31 August 2005, the Digital Business recorded profitbefore tax of approximately £0.8 million. The total price consists of goodwill of US$ 16 million and the value of stocks and assets less certain liabilities to be assumed by Flextronics that will be determined at completion of the sale. WWL's remaining operations, which include the management of logistical supportfor the Group's remaining operations in the Far East, will continue. The Circular also contains a Notice convening an Extraordinary General Meetingof shareholders at 11.00am on Wednesday, 15 February 2006 to be held at theoffices of Citigate Dewe Rogerson Ltd, 26 Finsbury Square, London, EC2A 1DS, atwhich approval for the proposed disposal will be sought. Notice is also being sent to Shareholders convening the 2006 Annual GeneralMeeting of The Character Group plc which will be held at 11.00am on Wednesday,22 February 2006 at the offices of Citigate Dewe Rogerson Ltd, 26 FinsburySquare, London, EC2A 1DS. Enquiries:Richard King, Executive ChairmanKiran Shah, Group Finance Director Fiona Tooley, DirectorThe Character Group plc Citigate Dewe RogersonTel: +44 (0)20 8949 5898 Tel: +44 (0)121 455 8370www.thecharacter.com Mob: +44 (0)7785 703523 (FMT) This information is provided by RNS The company news service from the London Stock Exchange