PTCM.L Regulatory News (PTCM)

27 Jun 2006 15:40

Media Steps Group PLC27 June 2006 Trading update Further to the announcement dated 16th May 2006 discussions with potentialinvestors have been exhausted and the Board has concluded that are-capitalisation of Media Steps Group Plc is unlikely. In parallel with these discussions with possible funders, the Board has alsobeen holding and continues to hold discussions with companies that might beinterested in acquiring the Group's two trading subsidiaries, Media Steps (UK)Limited and Media Steps (Sports) Limited, or the businesses and assets thereof.Any such disposal would require the consent of shareholders at an ExtraordinaryGeneral Meeting of the Company. Pending the outcome of these discussions, the Board has taken steps to reducesubstantially the costs within the business and to preserve the remaining cashwith a view to protecting value in Media Steps Group Plc, the AIM traded holdingcompany. As at 27th June 2006 the Company had a net cash balance of £75,000 A further announcement will be made in due course. Enquiries: Media Steps Group plc Tel: 01234 828811 Tony Jansen, Managing Director This information is provided by RNS The company news service from the London Stock Exchange