YooMedia Plc Disposal of "Dateline" Subsidiary YooMedia Plc ("YooMedia" or "the Company"), the AIM-traded interactive media
and games group announces the disposal of YooMedia Dating Group Limited which
trades under the brand name Dateline.
Dateline operates an online and offline dating business, and has seven
employees. The buyer is a consortium funded by Arc Management Holdings plc and
Capital Ideas plc and is acquiring the entire issued share capital for £
250,000.
Earlier this year another dating subsidiary trading under the brand "Avenues"
was committed to receivership. The disposal of Dateline now marks the final
stage in YooMedia's exit from the dating sector and the further progression in
management's policy of restructuring and repositioning the Group's operations
for future growth.
Neil MacDonald, CEO, YooMedia Plc, commented: "Our Chairman's statement in June discussed our efforts in the past year to
change our operations to enable us to focus exclusively on those aspects of the
business which will produce long term sustainable returns for shareholders.
"YooMedia's exit from the dating sector enables management to focus the
Company's resources on the growing digital market. This is a better commercial
fit with YooMedia's technical expertise, its existing product range and
represents a higher margin sector. The Company's strategic realignment now
leaves YooMedia better placed to grow its market share whilst maximising
profits." 13 December 2007 Enquiries: YooMedia PLC +44 (0) 207 462 0870
Neil MacDonald, CEO
Nexus Financial Ltd +44 (0) 207 451 7068
Nicholas Nelson/John Mundy Nicholas.nelson@nexusgroup.co.uk
Seymour Pierce Limited +44 (0) 207 107 8000
Mark Percy END
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