Last checked at 13 Oct 2008 07:00
Catalyst Media Group Plc ("CMG" or the "Company")
SIS Dividend
CMG is pleased to announce that on 9 October 2008 the board of Satellite Information Services (Holdings) Limited ("SIS"), in which CMG has a 20.51% shareholding, approved a dividend of £15 million in respect of the retained earnings brought forward balance as at 31 March 2008. Accordingly, CMG will receive £3.07 million, payable by 17 October 2008.
The dividend will be applied in full to the repayment of the Company's facility with RBS, which will reduce the balance owing to RBS to £1.25 million. The Company's total net indebtedness following this repayment will then be reduced to less than £4 million.
Enquiries:
Michael Rosenberg
Catalyst Media Group plc 020 7927 6699
James Harris/Angela Peace
Strand Partners Limited 020 7409 3494