LONDON (Thomson Financial) - RAM Investment Group PLC said its first-half
pretax loss widened to 70,267 stg from 68,434 stg last year.
The company added its litigation against the Greek Ministry of Culture over
its subsidiary RAM Media is continuing, and that the court has scheduled
hearings for June 3-10 and June 16-19.
In November 2006, the Greek Ministry of Culture cancelled plans to hold its
Federation Internationale des Associations de Footballeurs Professionnels award
ceremony in Athens. At the time RAM said the event was expected to earn the
group about 4 mln eur in revenues.
RAM Investment today added there was a strong prospect of success in the
lawsuit in addition to recovering a substantial amount in damages but added
that, while the future of RAM Media Ltd is dependent on the success of the case
against the Greek Ministry, the group continues to consider a variety of
investment opportunities and announcements will follow when appropriate.
TFN.newsdesk@thomson.com
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