THE MARKETING GROUP PLC DISPOSAL OF SUBSIDIARY
Disposal of Creative Insurgence to existing management
London – 12 January 2018 - The Marketing Group plc (“TMG” or the “Group” or the “Company”) announces the disposal of its lifestyle marketing agency, Creative Insurgence.
Aaghir Yadav, the co-founder of Creative Insurgence, has agreed to buy back the business through the return of 900,000 ordinary shares in the Company, which will be duly cancelled. It has been agreed that the effective date of the disposal be 1 January 2017 so any losses incurred by Creative Insurgence for the year ended 31 December 2017 will not impact TMG.
Commenting, Adam Graham, TMG CEO, said,
“Creative Insurgence specialises in lifestyle marketing for bars, clubs and restaurants. It was acquired by the former management at TMG and we feel it will be better placed as a standalone entity.
“We remain firmly supportive of Aaghir Yadav and wish both him and the team at Creative Insurgence a very successful future – indeed, we will continue to partner with them on some projects. For TMG shareholders, this is a further move which should help streamline our operations, bring tighter strategic fit to the group, and improve our financial performance.”
For further information please contact:
Adam Graham, CEO
Phone: +44 (0)7710 244573
Phone: +44 (0) 203 934 6630
The Marketing Group plc (“TMG”) in brief
TMG is building a global full-service marketing network, powered by technology, that provides a fresh alternative for global brands that want to see more bang for their buck. With offices in America, Europe, Asia and Australasia, TMG’s collaborative network of agencies provide a holistic service to deliver highly effective results.
The Marketing Group is listed on Nasdaq First North, Stockholm. www.tmg-plc.com.
Mangold Fondkommission AB, +46 8-5030 15 50, is the company’s Certified Adviser and liquidity provider.