REG - Ten Alps PLC - Disposal <Origin Href="QuoteRef">TAL.L</Origin>

Zinc MediaAnnouncement

13/06/2016 07:05

RNS Number : 9358A
Ten Alps PLC
13 June 2016
13 June 2016
Ten Alps Plc
("Ten Alps", the "Company" or the "Group")
Disposal
Ten Alps, trading as Zinc Media, the TV and multimedia content producer, today announces the disposal of the trade of Grove House Publishing Limited ("Grove"), one of its publishing subsidiaries, for a cash consideration of 50,000. Ten Alps will also retain certain assets, including the debtor book and cash in Grove, subject to various completion adjustments.
Grove, based in Groombridge, is a niche publisher and event organiser, specialising in the food, agriculture and animal medicines markets. As part of the Group's ongoing review and restructuring of its publishing division it has decided that the business of Grove is non-core. In the year ended 30 June 2015 Grove's revenues were 1m and it generated a profit before tax of 30,000. The proceeds from the sale will be applied towards the general working capital requirements of the Group.
For further information please contact:
Ten Alps Plc +44 (0) 20 7878 2311
Mark Wood, CEO
David Galan, CFO
c/o Emer Donohoe
www.zincmedia.com
N+1 Singer (NOMAD and Broker to Ten Alps) +44 (0) 20 7496 3000
Shaun Dobson / Lauren Kettle

This information is provided by RNS
The company news service from the London Stock Exchange
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