Update on 2011 Report and Accounts

6 Jul 2012 16:15

6 July 2012 Parallel Media Group plc ("PMG" or "the Company") Update on 2011 Report and Accounts

Parallel Media Group Plc, the AIM quoted sports media and digital agency, announces that its final results for the year ended 31 December 2011 are in final form and are awaiting final audit partner sign off in the week commencing the 16th July.

As previously stated, the delay has solely been brought about by the changing of the Company's accounts facility to an outsourced accounting team.

David Ciclitira, Chairman, commented:

"I am very disappointed that we have not been able to get the process completed within the necessary time frame and I look forward to being able to issue a trading update along with the published accounts."

For further information, please contact:

Parallel Media Group 020 7349 4816

David Ciclitira

Northland Capital Partners Limited 020 7796 8800

Luke Cairns, Edward Hutton

Bishopsgate CommunicationsNick Rome/Sam Allen 020 7562 3350

pmg@bishopsgatecommunications.com