TRS Tarsus Group Plc

TIDMTRS

RNS Number : 9006U

Tarsus Group PLC

03 August 2015

Tarsus Group plc

Disposal of French Business - Posting of Circular

Tarsus Group plc ("Tarsus" or the "Company" and, together with its subsidiaries, the "Group"), the international business-to-business media group, announced on 13 July 2015 that it had reached agreement to sell 100% of Tarsus France Holdings SAS (the "French Business") to Magellan VI SAS (the "Purchaser") for a total consideration of EUR9.2 million (approximately GBP6.6 million) payable in cash (the "Disposal").

At completion of the Disposal, the Purchaser will be owned as to 50.03% by CRG Consulting SAS ("CRG") and as to 49.97% by Fonds de Consolidation et de Développement des Entreprises II. The managing director of the French Business, Romuald Gadrat, owns 80% of the share capital and voting rights of CRG, with the remaining 20% held by his wife, Claire Gadrat. CRG is, therefore, a Related Party of the Company. Romuald Gadrat is a shadow director of Tarsus France by virtue of being a person in accordance with whose instructions its sole director, CRG, is accustomed to act. Romuald Gadrat is, therefore, also a Related Party of the Company. The Disposal is, therefore, a related party transaction. Consequently, the Disposal is subject to and conditional upon the approval of the Company's shareholders ("Shareholders") at a general meeting.

The Company announces that it has today posted to Shareholders a circular providing them with details of the Disposal and a notice convening a general meeting which is to be held at Collinstown Room, Radisson Blu Hotel, Dublin Airport, Dublin, Ireland at 12.30 p.m. on 1 September 2015 (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 
 

IR Focus

 
 Neville Harris    07909 976044 
 

Investec Bank plc (Financial Adviser and Broker)

 
 Chris Sim         020 7597 4000 
 David Anderson 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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