Completion of Demerger

16 Apr 2007 07:30

Avanti Screenmedia Group PLC16 April 2007 16 April 2007 Avanti Screenmedia Group plc ("Avanti Screenmedia") Completion of Demerger and Appointment of Nominated Adviser and Broker Following the result of the EGM announced on 10 April 2007, Avanti ScreenmediaGroup plc (AIM:ASG.L), the UK satellite media and telecommunications business,today announces the completion of the demerger of its satellite networksbusiness by way of a dividend in specie. The shares of the existing screenmedia business will continue to trade on AIM asAvanti Screenmedia Group plc. The satellite networks business has demerged intoa new entity, Avanti Communications Group plc (AIM: AVN.L), and its shares areexpected to be admitted to trading on AIM at 8.00 am today. It is expected that CREST member accounts will be credited with AvantiCommunications Shares today and certificates will be dispatched by 18 April2007. Avanti Screenmedia is also delighted to appoint Charles Stanley Securities asits Nominated Adviser and Broker with immediate effect. Definitions used in the Circular issued by the Company to its shareholders dated16 March 2007 shall have the same meanings when used in this announcement,unless the context requires otherwise. Enquiries Avanti Screenmedia Group plc 020 7749 1600Gary Truman (Finance Director) Charles Stanley Securities 020 7149 6000Russell Cook / Freddy Crossley Bishopsgate Communications 020 7562 3350Maxine Barnes/Jenni Herbert This information is provided by RNS The company news service from the London Stock Exchange