Interactive Publishing Plc
LSE : INTP

April 01, 2010 03:00 ET

Sale of titles

1 April 2010



                                    INTERACTIVE PUBLISHING PLC
                                          Sale of titles

The Board of Interactive Publishing Plc ("Interactive" or the "Company") announces that the
Company has agreed the sale of substantially all of its Adult interest titles.

The assets to be disposed of include 30 Adult titles and domain names, goodwill, contracts and
fixed assets associated with those titles.

The turnover and profit attributable to these assets in the year ended 30 June 2009 was £3,046,225
and £131,104 respectively.

The consideration for the sale of these assets is £500,000 in cash, with £400,000 to be received
by the Company on completion and the remaining £100,000 over the following month.

The loss realised by the Company on the sale of these assets over their book value is
approximately £400,000.

This disposal represents a significant step for the Company towards a sole focus on its Lifestyle
magazine titles and a move away from Adult titles, in accordance with its planned business
strategy.

The funds received from the sale of these assets will be used by the Company for its current
working capital requirements and to assist with future acquisitions to allow the Company to
increase its Lifestyle portfolio.



THE DIRECTORS OF THE ISSUER ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT

                                            ---ENDS---

CONTACT DETAILS:

Interactive Publishing plc
Justin Sanders, CEO                                Tel: 0207 608 6300

Fisher Corporate Plc
Gary Miller                                        Tel: 0207 388 7000

Contact Information

  • Interactive Publishing Plc