Capital Reduction

22 May 2013

Progressive Digital Media Group plc

Capital Reduction

Progressive Digital Media Group plc (the "Company") is pleased to announce that, following shareholder approval being granted on 24 April 2013, on 22 May 2013 the High Court issued an order confirming the cancellation of the Company's share premium account (the "Capital Reduction"). The Company has given certain undertakings to the Court in relation to the reserve arising on the Capital Reduction for the protection of the Company's creditors. 

It is anticipated that the Capital Reduction will become effective on 23 May 2013 following registration of the Court order at Companies House. A further announcement will be made in due course.

Enquiries:

Progressive Digital Media Group plc 0207 936 6400

Mike Danson, Chairman

Simon Pyper, Group Managing Director

N+1 Singer 0207 496 3000

James Maxwell

Nick Donovan

Hudson Sandler 0207 796 4133

Nick Lyon