THE MARKETING GROUP PLC: Trading Update and Group Reorganisation
Trading Update and Group Reorganisation
LONDON: 30 November 2018 – The Marketing Group plc (the “Company” or the “Group”), which trades as RYVL, today provides an update on current trading and certain actions being taken to reorganise the Group.
Since the Board changes announced in October 2018 and in light of the poor trading performance of certain Group companies in recent times, the Board has been reviewing the Group’s strategy. The Board concluded that a fundamental change was required, including a significant portfolio realignment, to ensure that the Group is focused on its core service offering of advertising, PR and data and has a sustainable future.
The decision was therefore taken that the following Group companies be either disposed of or discontinued:
- The Brand Theatre Pte Ltd
- Rainmakers MSA Limited
- One9Ninety Pte Ltd
- One9Social Pte Ltd, trading as Narratrs
- Channel Zero Pty Ltd
- Marker Limited
- Clickverta Limited
All the above companies, except Marker Limited, have been sold back to their management for sums that are not material in the context of the Group. The completion of these disposals occurred today. It is the Company’s intention to discontinue the operations of Marker Limited in early 2019.
This leaves the Group to immediately focus on a reduced number of core companies, all trading under the RYVL banner, of:
- RYVL Ranieri Public Relations (which includes the agencies formerly trading as Wildcard Communications and Reflexion Publique)
- RYVL Slingshot Sponsorship
- RYVL Truth Media
- RYVL Addiction Advertising
- RYVL DAE Advertising
These continuing operations, provide a highly integrated offering, will have offices in London, Paris, Düsseldorf, Singapore and San Francisco.
Given this fundamental reorganisation of the Group and the recent disappointing performance of the non-continuing operations the Board anticipates that the financial results for the year ending 31 December 2018 will be below the Board’s previous expectations and the Company is likely to report an operating EBITDA loss for the full year.
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 15:30 CET on 30 November 2018.
RYVL is the operating name of The Marketing Group Plc. (https://ryvl.com/)
RYVL is a global network of complementary marketing businesses. It is building a lean and technology centric approach to providing a global marketing solution, fit for the needs of modern brands.
The Marketing Group Plc (Ticker: TMG.ST) is listed on Nasdaq First North, Stockholm www.RYVL.com.
Mangold Fondkommission AB, +46 8-5030 15 50, is the Company’s Certified Adviser and liquidity provider.
Phone: +44 (0) 203 934 6630