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On July 7, 2023, Catalyst Media Group PLC (CMG) announced that Sports Information Services (Holdings) Limited (SIS), in which CMG holds an approximate 20.54% interest, concluded its strategic options review with Oakvale Capital LLP. The SIS Board subsequently decided to continue implementing its existing strategic development plan. Additionally, in June 2023, SIS signed a 5-year renewal for worldwide fixed odds media rights for Irish horseracing and made deals with Betsson, Kindred Group, and Livescore Group for its products.
| Date | 7 Jul 2023 |
| Time | 07:00:03 |
| Category | Corporate updates |
| ID | 2515F |
7 July 2023
Catalyst Media Group Plc
("CMG", "Catalyst" or the "Company")
Update re SIS
The Board of Catalyst (AIM: CMX) announces, further to the Company's announcement of 21 November 2022, that Sports Information Services (Holdings) Limited ("SIS") in which the Company has an approximate 20.54% interest has today informed the Company that the review of strategic options with Oakvale Capital LLP for its business has now been concluded.
Consequently, the SIS Board has decided that shareholder value can best be maximised for the time being by continuing to implement the existing strategic development plan for the business which will target growth in all SIS's product areas over the coming years. The Catalyst Board has been advised that SIS's new financial year to 31 March 2024 has started well with recently announced deals with Betsson for SIS's Competitive Gaming products, and Kindred Group and Livescore Group for the SIS racing portfolio. Additionally, the Company notes that in June 2023 SIS signed a renewal of the worldwide fixed odds media rights for all of Irish horseracing for a further 5 year term.
Enquiries:
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Catalyst Media Group plc Michael Rosenberg, Non-executive Chairman Melvin Lawson, Non-executive Director |
Mob: 07785 727 595 Tel: 020 7734 8111 |
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Strand Hanson Limited James Harris Matthew Chandler |
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Tel: 020 7409 3494 |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.