30 Sep 2009 08:42
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 entered into with Robert Easom, Julian Cordani and Hamilton International plc (the "Vendors") in relation to the acquisition of Trading Sports Limited (the "Option"), the Company announces that discussions are continuing with the Vendors and that it has today entered into a Deed of Amendment amending the terms of the Option.
Accordingly, the period during which the Option may be validly exercised by Premier has been extended from 30 September 2009 to 31 December 2009 and, in addition, the date for payment by Premier of the consideration due to the Vendors in respect of the Option, in the event that it is not exercised by Premier, has been extended from 31 December 2009 to 31 March 2010.
The exercise of the Option remains subject to completion of satisfactory due diligence by Premier on Trading Sports Limited and its subsidiaries and approval by the Company's board. All other terms and conditions of the Option, as detailed in the announcement on 30 June 2009, remain unchanged.
For further details please contact:
Premier Management Holdings plc
Barry Gold - 07768 948 928
Brewin Dolphin Investment Banking
Mark Brady - 0845 213 4730
Neil McDonald - 0845 213 4277