|
|||
From: Dale
ArtDate: 19 December 2005
Section: (FILLYABOOTS NEWS RELEASES)
Remote Name: 86.136.135.46
Date: 22/12/05
Time: 22:23
19th December 2005
Coolabi plc announces Hammer Film Productions Deal
News Item - Conduit PR
Coolabi plc: Hammer Films
Agreement for Coolabi to administer operations for Hammer Films Coolabi plc (“Coolabi” or “the Company”; ticker: COO), the AIM quoted media company, today announces completion of an agreement to administer and support certain of the operations and activities of Hammer Film Productions Limited (“Hammer”). Coolabi will receive fees of £100,000 per year for the provision of these services.
The above transaction falls to be treated as a related party transaction due to the fact that Mr Larry Chrisfield is a Director of both companies and the terms exceed 5% of the relevant class tests as set out in Schedule Three of the AIM Rules. Accordingly, the Directors, with the exception of Mr Larry Chrisfield, having consulted with the Company’s nominated adviser, Grant Thornton, consider that the terms of the transaction are fair and reasonable insofar as the Company’s shareholders are concerned.
Roger Holmes, Coolabi’s CEO said; “Hammer is an iconic British institution and we shall use all our experience and skill to seize opportunities to enhance and develop the Hammer brand”.
Larry Chrisfield, Hammer Films’ Chairman said; “Hammer has produced a substantial library of films and television programmes. Coolabi is our ideal partner to administer our operations”.
For further information:
Coolabi plc Roger Holmes Tel: +44(0)20 7258 7080 Conduit PR Pam Spooner or Laurence Read Tel: +44(0)20 7429 6604/5 +44(0)7771 993 236 / (0)7979 955 923
About Coolabi Coolabi is a media company listed on AIM engaged in the ownership, management, and commercial exploitation of intellectual property rights. Coolabi’s strategy is to build, organically and through acquisitions, a balanced portfolio of cash generative properties some of which will be owned and others represented as agent.
Leesa Peters Conduit PR 76 Cannon St London EC4N 6AE Tel: ++ 44 (0) 20 7429 6600 Mob: ++ 44 (0) 781 215 9885 Fax: + 44 (0) 20 7429 6699
www.conduitpr.com
|