SIS Dividend

RNS Number : 2855U

Catalyst Media Group PLC

20 December 2011

 



Catalyst Media Group Plc

("CMG" or the "Company")

SIS Dividend

CMG is pleased to announce that the board of Satellite Information Services (Holdings) Limited ("SIS"), in which CMG has a 20.54 per cent. shareholding, has approved a dividend of £7million in respect of the available profits as at 31 March 2010. Accordingly, CMG will receive £1,437,800 million, payable by 30th^th December 2011.

The dividend will be applied, inter alia, to the full repayment of the Company's outstanding borrowings of approximately £650,000. Given that all outstanding borrowings will be eliminated following receipt of the dividend, the Company intends to review its policy concerning possible distributions to shareholders depending on its ongoing working capital requirements, and will update shareholders accordingly in due course.

Enquiries:

Michael Rosenberg/Melvin Lawson

Catalyst Media Group plc

020 7637 8412

James Harris/Angela Peace

Strand Hanson Limited

020 7409 3494

 

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