INC.L Regulatory News (INC)

6 Aug 2007 16:22

Avanti Screenmedia Group PLC06 August 2007 06 August 2007 Avanti Screenmedia Group plc ("Avanti" or "the Company") Trading Update Avanti Screenmedia Group plc, a leading in-store digital solutions provider,announces a trading update. The Company announced on 15 June 2007, that it was experiencing difficulttrading in the period following the demerger from the satellite networksbusiness and that management had been refocusing the business and its strategy.Since then the Directors believe that trading is showing signs of improvement. However, the cumulative effect of the lower sales than expected in the period to30 June 2007 and implementation of the new strategy has had an adverse effect onthe Company's cash resources and accordingly the Company is currently reliant onits overdraft facility. As a result the Board is urgently seeking additionalfunding for the business. The Company will update shareholders of furtherprogress in due course. Enquiries: Avanti Screenmedia Group plcGary Truman, Finance Director0207 902 2345 Charles Stanley SecuritiesNominated AdviserRussell Cook / Freddy Crossley020 7149 6000 Bishopsgate Communications LimitedJenni Herbert020 7562 3355 This information is provided by RNS The company news service from the London Stock Exchange