TMG DIVESTS THREE AGENCIES
London – 10 August 2017 - The Marketing Group PLC (“TMG” or the “Group”) today announces that as part of the promised strategic review of the Group’s operating companies it has agreed to divest three subsidiaries which do not fit the target criteria of profitability and synergy with the rest of the Group: Imagine Group, Wilkin Marketing and Skye Multimedia. The move comes as TMG rolls out its strategy to strengthen the core of its network by focusing on agencies with a clear strategic fit. The divested agencies will not contribute to the Q2 2017 results. Approximately 1 million TMG shares are expected be returned by the vendors of the three subsidiaries and cancelled. A further announcement will be made when this has occurred.
Adam Graham, CEO, TMG commented:
“The departing agencies have all left by mutual consent and we wish them every success in the future. The remaining Group agencies are all highly complementary and provide clear synergy and value, as we move forward with building an agile, global marketing network.”
This information is information that The Marketing Group plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 7.00 am CET on 10 August 2017.
For more information, please contact
Adam Graham, CEO
Phone: 0207 1481606
Claes Delin / Mikael Widell
Phone: +46 703 11 9960
The Marketing Group plc (“TMG”) in brief
TMG is building a global full-service marketing network that respects the individual cultures of each agency that joins. By providing a supportive platform for growth, and an agile management approach, TMG aims to provide a fresh alternative to the big holding companies: Independent Spirit - Global scale. Each company within the group provides specialist marketing services brought together, within complementary communities of practice, to form an international network that can address a global market. The central team supports its subsidiaries through a lean and nimble structure that can respond quickly to change and provide highly effective solutions for clients. The Marketing Group is listed on Nasdaq First North, Stockholm.
Mangold Fondkommission AB, +46 8-5030 15 50, is the company’s Certified Adviser and liquidity provider.