re: Provide Commerce Inc
December 19 2003 - 2:00AM
UK Regulatory
RNS Number:4411T
Stanley Gibbons Group Limited
19 December 2003
Stanley Gibbons Group Limited
("Stanley Gibbons" or "the Company")
News re Provide Commerce Inc
The Board of the Company announces that on 17 December 2003, Provide Commerce
Inc, (previously Proflowers Inc), in which Stanley Gibbons has a shareholding,
was admitted to trading on NASDAQ. The mid-price of the ordinary shares in
Provide Commerce Inc (ticker symbol PRVD) at the close of trading on 17 December
2003 was $13, valuing Stanley Gibbons' interest at approximately #1.7 million.
The carrying value of this investment in the Company's most recent balance sheet
was #223,000.
The Directors are also pleased to announce that, further to the announcement of
their intention to investigate a method of returning surplus cash to
shareholders, the Channel Island authorities have now granted permission for the
Company to pay dividends from 2004. The Board is continuing to explore the
specific means by which this will be paid and will confirm this as soon as
possible.
With the year end only weeks away, the Board can report that good progress has
continued throughout the year and that the Directors are confident that the
results for the year end will meet market expectations.
This information is provided by RNS
The company news service from the London Stock Exchange
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