MME Medal Ent&Med

RNS Number:3407A
Medal Entertainment & Media PLC
16 July 2007

16 July 2007



                        Medal Entertainment & Media plc
                            ("MEM" or "the Company")

                                 Trading update

The board of directors of MEM ("the Board") is today providing an update
regarding the Company's financial position.

The Company acquired the UGD/Britannia Music business ("UGD") in October 2006.
On 6 March 2007, the Board announced that MEM would make a loss before tax and
exceptional items for the year ending 31 March 2007 of approximately #1 million.
In the same announcement, the Board pointed out that legacy issues inherited
with the UGD business had led to lower levels of sales at UGD than anticipated.

Financial position

Following the completion of the post integration review by MEM's recently
appointed COO, Andrew Dickson, it has  now become apparent that UGD has  higher
levels of bad debts and integration costs than expected.  As a result the Board
is in discussions with its bankers and advisors regarding funding and strategic
alternatives, which may include further debt facilities or an equity financing.

A further update will be given as soon as practicable.

Enquiries:

Steve Ayres,                                                       020 8900 5800
Chief Executive, Medal Entertainment & Media plc

Richard Swindells,                                                 020 7710 7400
Nabarro Wells & Co. Limited


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

TSTRFMRTMMJBBFR

Grafico Azioni Medal Entertainment & Media (LSE:MME)
Storico
Da Apr 2024 a Mag 2024

Grafico Azioni Medal Entertainment & Media (LSE:MME)
Storico
Da Mag 2023 a Mag 2024