23 Jul 2009 12:11
Premier Management Holdings PLC ("Premier" or the "Company")
Option Agreement
Further to the announcement released by the Company on 30 June 2009 in relation to the call option agreement to acquire Trading Sports Limited (the "First Option"), the Company announces that it has today entered into an additional call option agreement with Mr Robbert Jol (the "Second Option") for a consideration of £1. Mr Jol is a 25% shareholder in Finalfutures.com Limited, which, at the time of completion of the First Option will be a 50% subsidiary of Trading Sports Limited.
Under the terms of the Second Option, which is valid until 31 December 2009 and only exercisable in the event that the Company has acquired the entire issued share capital of Trading Sports Limited, Premier has the right to acquire Mr Jol's 25% shareholding in Finalfutures.com Limited in consideration for issuing Mr Jol with 6,000,000 new ordinary shares of 1 pence each in Premier. Should Premier acquire Trading Sports Limited and exercise the Second Option, it would own a total of 75% of the issued share capital of Finalfutures.com.
FinalFutures.com Limited is Europe's first and only specialist in sports events futures. The company offers a unique trading platform which allows sports fans the opportunity to secure spectator tickets through buying a contract for a large sporting event and allowing this to be traded at any time prior to the event on the FinalFutures.com market. It commenced trading in October 2008 and for the eight months to 31 May 2009, FinalFutures.com Limited generated (unaudited) turnover of £16,500 and profit before tax of £10,000.
Contact details:
| Premier Management Holdings plc Barry Gold | 07768 948 928 |
| Brewin Dolphin Investment Banking Mark Brady | 0845 213 4730 |
ENDS