Dialog Corporation - Hldg in Easynet Group PLC
14 May 1998 - 1:57AM
UK Regulatory
RNS No 4211n
DIALOG CORPORATION PLC
13th May 1998
THE DIALOG CORPORATION SELLS STAKE
IN EASYNET GROUP PLC FOR #3.2 MILLION
London - 13th May 1998 - The Dialog Corporation plc, a leading supplier of
online professional and commercial information, today announced that it has
sold its 10.4% investment (approximately 2.1 million Ordinary Shares) in
Easynet Group plc, yielding net proceeds of #3.2 million. As a result of the
transaction, The Dialog Corporation will record a second quarter profit of
#1.0 million, after associated transaction costs. The shares in Easynet were
acquired by the company in February 1996.
David Mattey, Finance Director of The Dialog Corporation, commented:
"We are actively focusing resources on The Dialog Corporation's core
businesses, and are therefore realising our investments in non strategic
assets. As with the previously announced sale of our equity holdings in
NewsEDGE, we will utilise the proceeds from this sale to reduce corporate
debt.
"Easynet is a rapidly-growing Internet and telecommunications company, and we
continue to believe that it has excellent prospects and a strong management
team."
The Dialog Corporation (http://www.dialog.com) is a leading provider of online
information created by the merger of M.A.I.D plc and Knight-Ridder Information
Inc. The Dialog Corporation brands include the DIALOG, DataStar and Profound
range of products and services. These brands provide comprehensive,
authoritative sources of information to professionals worldwide. The Dialog
Corporation has world headquarters in London and US headquarters in Mountain
View, California. The Company's American Depository Shares (ADS) are traded
on Nasdaq under the symbol "DIALY" with four Ordinary Shares comprising one
ADS; its Ordinary Shares trade on the London Stock Exchange under the symbol
"DLG".
Enquiries:
Sara Parker, Head of Corporate Communications (+44) 171 930 6900
The Dialog Corporation plc sara_parker@dialog.com
John Olsen (+44) 171 357 9477
Hogarth Partnership Limited jolsen@hogarthpartnership.co.uk
(for The Dialog Corporation plc)
END
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