Storyboard Assets Plc

LSE : STYP


December 13, 2012 07:24 ET

Result of Sothebys' Auction

                                                                                        13/12/2012
                                                                         GB00B3DBY868/GBP/PLUS-exn
                                                 
                                       Storyboard Assets Plc
                                  ("Storyboard" or the "Company")
                                                 
                                    Result of Sothebys' Auction
                                                 
Storyboard  announces that at the auction held at Sothebys on 12 December 2012, the  majority  (in
terms  of  number  of  pieces)  of the balance of Storyboard's portfolio  was  sold  for  a  gross
consideration  of GBP35,500. The prices achieved are very disappointing, but are in  line  with  the
revised  book  value published in the Company's interim results for the six months ended  31  July
2012.   Two  of  the lots offered by the Company remained unsold (Fierce Bad Rabbit and  Peace  At
Last).

Following the sale, the Company is left with the following artworks:

 Name of Artwork                                                   Artist
                                                                   
 Bod                                                               Joanne Cole
 Peace at Last                                                     Jill Murphy
 Fierce Bad Rabbit                                                 Beatrix Potter
 One of his hobbies (Sylvester & The Magic Pebble)                 William Steig
 Stuart Little                                                     Garth Williams
 Complete Box Set of Lithograph Prints                             Maurice Sendak

Stuart Little by Garth Williams and Sylvester & The Magic Pebble by  William Steig will be sold at
Heritage Auctions in Texas in April 2013. The aggregate consideration for these pieces is expected
to be around ?20,000. The balance of the Company's portfolio will also be sold by that time.

The  Board  of Storyboard is in the process of agreeing a future suitable investment strategy  for
the  Company  as  a cash shell as defined by the ISDX Growth Market - Rules for  Issuers  and  the
Company will seek shareholder approval for this investment strategy in due course.

The Directors of Storyboard are responsible for the contents of this announcement.

Contact Information:
Company
Storyboard Assets Plc
Marcus Yeoman - Chairman
Tel: 07970 028 442

Corporate Adviser
St Helens Capital Partners LLP
Duncan Vasey or Mark Anwyl
Tel: 020 7368 6959

Contact Information

  • Storyboard Assets Plc