Last checked at 20 Dec 2011 07:00
Catalyst Media Group Plc
("CMG" or the "Company")
SIS Dividend
CMG is pleased to announce that the board of Satellite Information Services (Holdings) Limited ("SIS"), in which CMG has a 20.54 per cent. shareholding, has approved a dividend of £7million in respect of the available profits as at 31 March 2010. Accordingly, CMG will receive £1,437,800 million, payable by 30thth December 2011.
The dividend will be applied, inter alia, to the full repayment of the Company's outstanding borrowings of approximately £650,000. Given that all outstanding borrowings will be eliminated following receipt of the dividend, the Company intends to review its policy concerning possible distributions to shareholders depending on its ongoing working capital requirements, and will update shareholders accordingly in due course.
Enquiries:
Michael Rosenberg/Melvin Lawson
Catalyst Media Group plc
020 7637 8412
James Harris/Angela Peace
Strand Hanson Limited
020 7409 3494