Catalyst Media Group PLC Update regarding SIS (9418O)
23 May 2018 - 4:00PM
UK Regulatory
TIDMCMX
RNS Number : 9418O
Catalyst Media Group PLC
23 May 2018
23 May 2018
Catalyst Media Group plc
("CMG" or the "Company")
Update regarding SIS
The Company provides the following update in respect of Sports
Information Services (Holdings) Limited ("SIS") in which CMG has an
approximate 20.54% interest.
SIS notes the announcement by the Department for Digital,
Culture, Media and Sport on the Triennial Review and the reduction
of the maximum stake for fixed odds betting terminals to GBP2 and
the resulting commentary from the UK betting industry.
SIS recognises that the change will affect the UK retail market
which it serves. At this early stage neither the implementation
date nor the resulting impact on the UK betting market is known and
therefore, SIS is not able to fully assess the impact on its own
business of this change. However, SIS is still exposed to a
potential material decline in the UK retail market through a
resulting reduction in the number of UK betting shops.
The new media rights contracts that SIS has been entering into
with UK and Irish racecourses will though partially mitigate the
impact of the change on SIS's business, along with other mitigating
actions that are being and could be implemented by SIS. SIS's
strategy to accelerate international and online expansion, is
further supported by the change.
As previously announced, SIS has received approaches for SIS
Live and SIS confirms that these continue to be considered and may
result in the sale of SIS Live, with any net proceeds from such a
sale expected to be returned to SIS shareholders. However, there is
no certainty that such discussions will result in the disposal of
SIS Live.
The Company will make further announcements as appropriate.
Enquiries:
Catalyst Media Group Plc
Michael Rosenberg, Non-executive Chairman 07785 727 595
Melvin Lawson, Non-executive Director 020 7734 8111
Strand Hanson Limited 020 7409 3494
James Harris
Richard Tulloch
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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