7 Nov 2011 16:30
Tarsus Group plc
(the "Company" or "Tarsus")
Disposal of ModAmont SAS - posting of circular
The Company announced on 3 October 2011 that it had reached agreement to dispose of the group's 51 per cent. interest in ModAmont SAS ("ModAmont"), to its joint venture partner, Premiere Vision SAS ("Premiere Vision"), for a total consideration of €6.1 million (the "Disposal"). Owing to its significant shareholding in ModAmont, Premiere Vision is considered to be a related party for the purposes of the Listing Rules. The Disposal, therefore, constitutes a related party transaction. Consequently, the Disposal is subject to and conditional upon the approval of shareholders in the Company ("Shareholders") at a general meeting.
The Company announces that it has today posted to Shareholders a circular providing Shareholders with details of the Disposal and a notice convening a general meeting which is to be held at Collinstown Room, Radisson SAS Hotel, Dublin Airport, Dublin, Ireland at 12.15 p.m. on 28 November 2011 (the "Circular").
The Circular will shortly be made available on the Company's website at www.tarsus.com. The Circular has also been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do.
For further information contact:
Tarsus Group plc
Douglas Emslie, Group Managing Director | 020 8846 2700 |
Dan O'Brien, Group Finance Director | 020 8846 2765 |
Investec Bank plc (Financial Adviser and Broker)
Patrick Robb | 020 7597 5970 |
David Anderson |
Madano Partnership
Matthew Moth | 020 7593 4000 |