Centaur Media PLC Centaur completes disposal (8456A)

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RNS Number : 8456A

Centaur Media PLC

03 June 2019

Centaur Media Plc

Centaur completes disposal of engineering portfolio to Mark Allen Group for GBP2.5m

Centaur Media Plc ("Centaur" or the "Group"), an international provider of business information and specialist consultancy, today announces that it completed the sale of its engineering portfolio, including The Engineer and Subcon, on 31 May 2019.

As announced last month, the purchaser is Mark Allen Group, an information services company which delivers high-quality content through market-leading journals, magazines, events, exhibitions and websites. The consideration was GBP2.5m in cash, subject to customary post-completion adjustments.

The disposal is part of the divestment process that began after Centaur concluded a strategic review in October and decided to focus on its leading brands to improve operational execution. Together with the recently announced sales of its financial services, HR businesses and travel and meetings exhibitions, the Group has raised GBP21.75m in aggregate. In addition, the sale of Centaur's smaller businesses will enable the simplified Group to make significant cost reductions, which are expected to create further shareholder value.

Negotiations for the sale of The Lawyer are continuing and Centaur will provide an update in due course. As previously disclosed, Centaur will consider the best use for the sale proceeds once the divestment process is complete.

Enquiries

 
 Centaur Media Plc 
 Andria Vidler, Chief Executive 
  Officer                          020 7970 4000 
 Swag Mukerji, Chief Financial 
  Officer 
 
 Teneo 
 Paul Durman/Rebecca Hislaire      020 7420 3144

Note to editors

Centaur

Centaur is an international provider of business information and specialist consultancy that inspires and enables people to excel at what they do, raising the standard for insight, interaction and impact.

Leading brands include: Econsultancy, Marketing Week, Festival of Marketing, MarketMakers, Creative Review, Influencer Intelligence, Fashion & Beauty Monitor, The Lawyer and Oystercatchers.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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