Trading Statement (3414P)

TIDMTRS

RNS Number : 3414P

Tarsus Group PLC

03 October 2011

Tarsus Group plc

3 October 2011

Disposal of French Joint Venture

and

Trading Update

Modamont - France

Tarsus Group plc ('Tarsus', the 'Group' or the 'Company'), the international business-to-business media group, is pleased to announce that it has reached agreement to dispose of its 51 per cent. interest in the joint venture, Modamont SAS ("Modamont"), to its joint venture partner, Premiere Vision SAS, for a total consideration of EUR6.1 million (the "Disposal").

Modamont is the leading exhibition for fashion accessories in France and takes place bi-annually in Paris in February and September. In the year ended 31 December 2010 Tarsus's 51 per cent. share of Modamont revenues and profits were approximately EUR2.2 million and EUR0.6 million respectively. Tarsus's share of Modamont's net assets were approximately EUR0.7 million as at 30 September 2011. Tarsus's share of Modamont's gross assets as at 30 June 2011 were approximately EUR1.5 million. At completion, Tarsus France SAS will repay a loan of EUR2.2 million to Modamont. The net proceeds from the Disposal will be used to give additional flexibility to the Company's balance sheet.

Owing to its significant shareholding in Modamont, Premiere Vision is considered to be a related party for the purposes of the Listing Rules and the Disposal therefore constitutes a related party transaction. Consequently, the Disposal is subject to and conditional upon the approval of shareholders in the Company at a general meeting. Further details of the Disposal and a notice convening a general meeting to approve the Disposal will be sent to Tarsus shareholders in due course.

Trading Update

Since the announcement of the Group's interim results on 27 July 2011, the Group has held three major exhibitions. Off Price took place in Las Vegas in August 2011 and generated a like-for-like revenue increase of approximately 6 per cent. Modamont and Labelexpo Europe (the second largest show in the Group's portfolio, held in Brussels) both took place in September and produced like-for-like revenue increases of 9 per cent. and over 10 per cent. respectively, both slightly ahead of management's expectations. The Group's largest event in the fourth quarter, the Dubai Airshow, is on track to meet management's expectations.

Forward bookings continue to be strong and the Board is increasingly confident of good progress being made this year.

Douglas Emslie, Group Managing Director of Tarsus, commented:

"The disposal of Modamont will materially reduce our exposure to the lower growth European market and less than 10 per cent. of Group profits will now be generated from France. Tarsus France will continue to focus on its remaining wholly owned portfolio of exhibitions.

We now have greater financial flexibility to accelerate our drive into the faster growth emerging markets where we are actively pursuing potential acquisitions. As we continue to execute our growth strategy we anticipate a further significant increase in the proportion of our business coming from the emerging markets".

For further information, please contact:

Tarsus Group plc:

Douglas Emslie, Group Managing Director 020 8846 2700

Dan O'Brien, Group Finance Director 020 8846 2700

Media

Madano Partnership:

Matthew Moth 020 7593 4000

This information is provided by RNS

The company news service from the London Stock Exchange

END

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