AGM Statement

23 Nov 2006 15:12

Cheerful Scout PLC23 November 2006 Cheerful Scout Plc: CLS / Index: AIM / Sector: Media 23 November 2006 CHEERFUL SCOUT PLC ('Cheerful Scout' or 'the Company') AGM STATEMENT Cheerful Scout Plc, the AIM listed multi media group, held its Annual GeneralMeeting today and all resolutions were duly passed. Chairman Stuart Appleton made the following statement: "As our final results clearly highlighted, 2006 has been an exceptional year forus. We made great strides across all our divisions, which resulted in astrengthening of our portfolio of blue-chip clients, an enhancement of ourtechnology and service offering and the winning of several prestigious awards inthe UK and Europe. "Whilst the core business performed exceptionally well and was the maincontributor to your Company's inaugural pre-tax profits, the new divisions arealso beginning to make waves. Our newly established events division, which worksin tandem with state of the art presenting medium, nVision Presenter, hasalready organised some key international live events and we look forward to thismaking a significant contribution going forward. Additionally, we are veryexcited about a new target market - The Business Intelligence Market - where wesee nVision Strategy taking a major role. "As investors will be aware, a consolidation of share capital was recommendedand has now been approved. Essentially, every 25 issued and unissued ordinaryshares of 0.5 pence each in the capital of the Company shall be consolidatedinto 1 ordinary share of 12.5 pence. This will reduce trading costs forshareholders without having an adverse effect on liquidity, and in the longerterm we believe that it will enable us to attract further institutionalinvestment, which will give increased stability to the stock." Pursuant to the share consolidation, application has been made to the LondonStock Exchange plc for 9.8 million ordinary shares of 12.5 pence each ('NewOrdinary Shares') arising on the consolidation to be admitted to trading on AIM.It is expected that dealings in the New Ordinary Shares will commence on 27November 2006. * * ENDS * * Contacts: Gary Fitzpatrick Cheerful Tel: 020 7291 0444 Isabel Crossley St Brides Media Tel: 020 7242 4477 Note to Editors Cheerful Scout is a multidisciplinary creative consultancy that specialises indevising and delivering corporate communication solutions. Its approach is unique, blending creativity and experience with an unparalleleddegree of technological know-how. This is what sets it apart from otherproduction houses - ensuring its work is original, impressive and cutting-edge. Cheerful Scout was one of the first companies in Britain to invest in DVDauthoring technology and has created more than 500 titles for the retail andcorporate markets. Its highly experienced DVD team comprises of graphicdesigners, authors and project managers. This information is provided by RNS The company news service from the London Stock Exchange