10 Group PLC
12 March 2001
10 Group plc has announced it is to withdraw from publishing and its allied
internet interests to concentrate on investments, property and leisure.
The nine titles - Business Report, Society, Shires Golfer, Internet Monthly,
The Internet Explained, MP3x, JobsWeek, Football Monthly and Where - are to be
made available for sale with immediate effect.
10 Group has already sold recruitment title IS Opportunities for £395,000.
Andy Moore, chairman of 10 Group plc, said the decision had been reached in
view of the longer than anticipated period required for the group's publishing
division to develop its stable of titles as planned.
'All the titles have the potential to be developed and produce positive
revenue stream in time, but we have decided that the investment and timescale
required does not meet our investment criteria. We feel our cash resources can
be put to better and more immediate use.
'Last year our investment company 10i made over £500,000 in just three months
with an investment in fellow AIM company RexOnline and we believe we can make
Andy Moore - Chairman,
10 Group plc,
10 Clement Street,
Birmingham B1 2SL
Tel: 0121 233 1122
See also www.10group.co.uk
Tel: 01789 488888
Mobile: 07990 978257