Live Company Regulatory News (LVCG)

18 Aug 2005 11:03

RAM Investment Group PLC18 August 2005 RAM Announces Golf Property Joint Venture Partnership with PMG 18 August 2005 RAM Investment Group plc (RAM) is pleased to announce that it has reached an inprinciple joint venture agreement with Parallel Media Group plc (PMG). Theproposed joint venture would aim to create and develop championship golf coursesincorporating residential and resort style living in Eastern Europe, LatinAmerica and the Caribbean. This proposed joint venture provides a real opportunity for both companies totake advantage of the synergies that exist between them. RAM has over 45 yearsof experience in the property industry and PMG has extensive experience inglobal golf sponsorship sales, sports marketing and media. RAM will focus on locating suitable property sites for the planning anddevelopment of future golf courses, while PMG's role will be to source, andwhere relevant, promote professional golf tournaments to be staged at thesevenues. The joint venture partnership aims to create high value residential and luxurygolf resort hotels at each site, working in tandem with local residentialdevelopment companies. It also intends to create investment value on the resorthotels by leasing them to a hotel group/s. Other revenue streams for the proposed joint venture to explore are the sellingoff or part selling of residential property whilst PMG would retain the longterm option to promote and stage golf tournaments at each individual golfcourse.Another possibility, subject to each local golfing fraternity, would be throughthe sale of debentures. More.../ RAM Announces Golf Property.../2 The management of RAM believes that there is a strong status for localauthorities within the designated search area to possess a world classcompetition course, in some cases potentially the only one of its type in aparticular region. RAM is equally confident that it will be able to enter intofavourable land deals at local government level. Laurence Selman, Director of RAM Investment said, "We benefit from an extensive knowledge of the property trade and have extensivecontacts around the world with property agents and international hotel groups;we believe that this partnership represents a solid and potentially rewardingproperty model with the prospect of being rolled out internationally. "With PMG's expertise in sponsorship, media and golf, we are looking forward toa successful relationship where both parties can trade on their strengths, thusbringing additional value to our shareholders. RAM is looking forward todeveloping its portfolio in the sporting and property arena internationally" hesaid. On 9 August 2005 RAM agreed heads of terms to invest in Parallel Media Groupplc. - ENDS - For information please contact: Tim Blythe / Loic Echaubard Laurence Selman, Director0207 053 6000 0208 349 2001Beattie Communications RAM Investment Group plc Notes to Editors About RAM Investment Group PLC RAM Investment Group is an AIM listed investment company that focuses oninvestment opportunities in the media and leisure sector, specifically seekinglow risk, high return investments. Mr Lebetkin, Director, has been involved in the property industry for 17 years.Over this period he has acted as agent, adviser and principal in a vast arrayof development and investment transactions throughout the United Kingdom. In recent years he has had considerable success in the property development arenaby virtue of his particular skills and experience in exploiting thecomplexities of the UK planning environment. Mr Selman, Director, has been involved in the property industry for 29 years. Hehas been involved in transactions as agent, adviser and principal, withparticular focus on the motor and petrol property sector and latterly general commercial. In recent years he has worked closely with Nicholas Lebetkin, actingas principals, and using their experience of the planning environment, on arange of transactions relating to Brownfield property assets. About PMG AIM quoted Parallel Media Group plc ("PMG") is a global media, marketing andsports management Company. The Group owns one of the largest asset portfolios inGolf and has organised and promoted over 100 professional tournaments since itsinception 18 years ago. The key areas of the business are in Asia, particularlyin China and South East Asia, and in the Spanish speaking Americas, and Europewhere PMG owns extensive commercial and broadcast rights. The Group has served a diverse range of clients over the years and continues todevise unique and innovative mediums to better serve the demands of globalbrands through event creation and marketing platforms. Current clients includeUBS, Adidas Taylor Made, Carlsberg, Malaysia Tourism, Robe di Kappa, TelekomMalaysia, Samsung, Standard Chartered and TCL. The Group is currently organising and promoting tournaments including The UBSHong Kong Open, The Singapore Masters presented by Carlsberg, The Enjoy JakartaStandard Chartered Indonesian Open, The Malaysian Open, The TCL Classic, SamsungLadies Masters Singapore, The Thailand Ladies Open and the inaugural KazakhstanOpen in Almaty. In Latin America, PMG is the exclusive commercial rights holder and partner tothe Tour de las Americas, (TLA) the men's professional golf tour of Central /South America and the Caribbean. This information is provided by RNS The company news service from the London Stock Exchange