Disposal of ModAmont SAS - posting of circular (6404R)
November 07 2011 - 11:30AM
UK Regulatory
TIDMTRS
RNS Number : 6404R
Tarsus Group PLC
07 November 2011
Tarsus Group plc
(the "Company" or "Tarsus")
Disposal of ModAmont SAS - posting of circular
The Company announced on 3 October 2011 that it had reached
agreement to dispose of the group's 51 per cent. interest in
ModAmont SAS ("ModAmont"), to its joint venture partner, Premiere
Vision SAS ("Premiere Vision"), for a total consideration of EUR6.1
million (the "Disposal"). Owing to its significant shareholding in
ModAmont, Premiere Vision is considered to be a related party for
the purposes of the Listing Rules. The Disposal, therefore,
constitutes a related party transaction. Consequently, the Disposal
is subject to and conditional upon the approval of shareholders in
the Company ("Shareholders") at a general meeting.
The Company announces that it has today posted to Shareholders a
circular providing Shareholders with details of the Disposal and a
notice convening a general meeting which is to be held at
Collinstown Room, Radisson SAS Hotel, Dublin Airport, Dublin,
Ireland at 12.15 p.m. on 28 November 2011 (the "Circular").
The Circular will shortly be made available on the Company's
website at www.tarsus.com. The Circular has also been submitted to
the National Storage Mechanism and will shortly be available for
inspection at www.hemscott.com/nsm.do.
For further information contact:
Tarsus Group plc
Douglas Emslie, Group Managing
Director 020 8846 2700
Dan O'Brien, Group Finance
Director 020 8846 2765
Investec Bank plc (Financial Adviser and Broker)
Patrick Robb 020 7597 5970
David Anderson
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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