Disposal

Parkmead Group (The) PLC 02 February 2007 The Parkmead Group plc Sale of Yospace Technologies Limited for £5.0 million to EMAP Consumer Media Limited The Board of The Parkmead Group plc (the 'Group' or 'Parkmead') is pleased to announce the sale of its 54% holding in Yospace Technologies Limited ('Yospace') for a total consideration, including repayment of debt and interest, of £5.0 million in cash before expenses to EMAP Consumer Media Limited. Yospace provides multimedia messaging, personal storage and handset simulation software services to the mobile communications industry. Included within this amount is the repayment of £1.2 million of debt and accrued interest advanced to Yospace by the Group. The Group's equity investment in Yospace amounted to £11,000. For the year to 31 December 2005, Yospace incurred a loss of £0.5 million. The net assets of Yospace as at the year ended 31 December 2005 showed a deficit amounting to (£0.9) million. The net assets of Yospace consolidated in the Group's balance sheet as at the year ended 30 June 2006 amounted to (£1.0) million and the consolidated trading loss of Yospace for the year to 30 June 2006 amounted to £0.2 million. Funds arising from the sale will be used to strengthen the Group's balance sheet, to provide investment capital for principal finance opportunities and to fund expansion in the Group's turnaround and corporate finance businesses. Niall Doran, Chief Executive of The Parkmead Group plc said, 'This is a further successful step in the rationalisation of Parkmead's investment portfolio as we focus on our core disciplines.' Ends For further information: Parkmead Gordon Ashworth 0207 494 3080 Niall Doran 0207 494 3080 Madano Partnership 020 7593 4000 Matthew Moth This information is provided by RNS The company news service from the London Stock Exchange
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