Business
Re SIS Dividend Policy
Re SIS Dividend Policy.
About this update from Catalyst Media Group Plc
[{"type":"text","content":"\n Catalyst Media Group PLC\n03 August 2007\n\n\n\n Catalyst Media Group Plc ('CMG' or the 'Company')\n\n SIS Dividend Policy\n\nCMG is pleased to announce that the board of Satellite Information Services\n(Holdings) Limited ('SIS'), of which CMG owns 20.51%, has adopted a formal\ndividend policy such that at least 50% of retained earnings are to be paid out\non an annual basis subject to cash flow requirements.\n\nOn 2 August 2007, in line with this dividend policy, the SIS board approved a\ndividend of £10 million in respect of the retained earnings brought forward\nbalance as at 31 March 2007, of which CMG will receive £2.05 million, payable by\n31 August 2007. The dividend will be applied in full to the repayment of the\nCompany's facility with Investec Bank (UK) Limited, which will bring the balance\nowing to under £3 million. The Company's total indebtedness after this repayment\nwill then be reduced to under £6.8 million.\n\nEnquiries:\n\nMichael Rosenberg / Anna Prestwich\nCatalyst Media Group plc 020 7927 6699\n\nJames Harris / Angela Peace\nStrand Partners Limited 020 7409 3494\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1293,"tagName":"div"}]