15 May 2008 10:49
Date: 15th May 2008
On behalf of: First Artist Corporation plc ("First Artist" or "the Group")
For immediate release
First Artist Corporation plc
Potential Disposal
Following recent press speculation, the Board of First Artist (AIM: FAN), the media, events and entertainment management group, announces that it has received a preliminary proposal which could lead to the disposal of Dewynters Limited ("Dewynters").
Dewynters is a wholly-owned subsidiary of First Artist and is the UK entertainment industry's leading full-service agency, providing marketing, design, advertising, promotions and digital media across a broad spectrum, and with a merchandising operation in the USA.
Discussions are at a very early stage and there can be no certainty as to the outcome. A further announcement will be made as appropriate.
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Enquiries:
First Artist Corporation plc Tel: 020 7993 0000
Jon Smith, Chief Executive www.firstartist.com
Redleaf Communications Tel: 020 7822 0200
Emma Kane / Sanna Sumner / Mike Ward FirstArtist@redleafpr.com
Dawnay, Day Corporate Finance Limited, NOMAD Tel: 020 7509 4570
Christian Littlewood
David Floyd
Notes to Editors:
First Artist Corporation plc floated on AIM in 2002
First Artist's group companies are among the leading brands in their fields under the following categories:
Media - advertising, marketing and signage for West End, Broadway and Las Vegas shows via the Dewynters and Newman Displays brands, and strategic sponsorship consulting via Sponsorship Consulting and First Rights
Management - representation of media personalities and football players/clubs across UK, Europe and the US via its First Artist Sport and First Artist Entertainment companies together with wealth management under its Optimal Wealth Management arm
Events - offers a broad range of events such as conferences, company activity days, venue finding, delegate management and client events for private and public sector clients such as the Training & Development Agency, under its Finishing Touch business
First Artist is acting as a consolidator in the fragmented media, entertainment and events sectors focusing on high quality brands with the potential to cross sell to other Group companies
First Artist has strong visibility of earnings across a diverse and non-cyclical range of activities in both live and digital formats
The Group benefits from a strong, experienced management team with extensive expertise across all the sectors in which it operates