TIDMTRS

RNS Number : 7414X

Tarsus Group PLC

01 September 2015

Tarsus Group plc

Disposal of French Business - Result of General Meeting

Tarsus Group plc ("Tarsus" or the "Company" and, together with its subsidiaries, the "Group"), the international business-to-business media group, is pleased to announce that the resolution put to the Company's shareholders ("Shareholders") at the General Meeting held earlier today (the "Resolution") was duly passed.

On 13 July 2015 the Company announced 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 (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 Claire Gadrat. By virtue of Romuald Gadrat being a director of the French Business, the Purchaser is considered to be a related party for the purposes of the Listing Rules. The Disposal, therefore, constitutes a related party transaction and was consequently subject to and conditional upon the approval of Shareholders at a general meeting. A circular was posted to Shareholders on 3 August 2015 providing Shareholders with details of the Disposal and a notice convening the General Meeting.

Following the passing of the Resolution, completion of the Disposal is expected to take place shortly.

The final proxy voting position as received by the Company in respect of the Resolution in advance of the meeting is set out below:

 
                     For (i)               Against        % share 
                                                           capital 
                                                           voted 
                                                           (ii) 
 Votes cast   Number       % shares   Number   % shares              Votes withheld 
                            voted               voted                 (iii) 
 73,495,387   73,495,387   100%       0        0%         72%        0

Notes:

(i) Any proxy appointments which gave discretion to the Chairman or the Company Secretary have been included in the 'For' total.

(ii) The Company's issued ordinary share capital at 1 September 2015 comprises 101,749,351 Ordinary Shares.

(iii) A 'Vote Withheld' is not counted towards the votes cast 'For' or 'Against' a resolution.

A copy of the Resolution passed at the General Meeting has 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

ROMEALNFEFESEFF

(END) Dow Jones Newswires

September 01, 2015 10:12 ET (14:12 GMT)

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