SPORT MEDIA GROUP PLC
("Sport Media", "SPMG", "or "the Company")
Financing update
Pursuant to the announcement on 7 January 2009 and the AGM statement on 24 February 2009, the Board of Sport Media Group plc (AIM: SPMG.L) is pleased to announce that it has negotiated an interim extension to its existing bank facilities while discussions around the longer term facilities are being finalised over the coming weeks.
The Board remains optimistic that longer term facilities will shortly be agreed, but nonetheless
continues to explore all other possibilities to secure the Group's future. The Company will continue
to update the market with regards to future developments as and when they occur.
For further information, please contact:
Sport Media Group plc
Andrew Fickling, Chief Executive Officer Tel: + 44 (0) 161 236 4466
Andrew Fletcher, Chief Financial Officer Tel: + 44 (0) 20 8507 6965
Daniel Stewart & Company plc
Simon Leathers/Oliver Rigby Tel: + 44 (0) 20 7776 6550
Notes to Editor:
On the 5th September 2007 Interactive World Plc acquired the entire issued share capital of Sport Newspapers Limited by way of a reverse takeover. At this time the name of the Company was changed to Sport Media Group Plc and the enlarged issued share capital was admitted to trading on AIM.
The Group has grown to become a recognised UK branded tabloid newspaper, publishing various titles including the Daily Sport and Sunday Sport. The Sport titles are sold to approximately 37,000 retail outlets around the UK by a network of wholesalers, both commercial and independent.
The Group's other activities include the sales of digital media content through mobile telephones via the internet to mobile customers of major UK network operators and users of leading UK internet key search engines.
RNS news service provided by Hemscott Group Limited.