Business
Trading Update
Trading Update.
About this update from Primorus Investments Plc
[{"type":"text","content":"\n RNS Number : 9786G CSS Stellar PLC 11 February 2010 \n \n\nCSS Stellar plc (the \"Company\")\nTrading Update\nThe Company announced on 8 January 2008 that it had disposed of its 75% interest in GEM Minneapolis, Inc., a US-based creative design and photography business, for US$1.8 million in cash, of which US$1.1 million was received on completion and the remaining US$0.7 million was due over three years by way of a promissory note. US$0.1 million was received in January 2009.\nThe Company has since been informed by the acquiring party that it will be unable to honour the original terms of the sale agreement. The directors of the Company have therefore renegotiated the terms of the sale agreement with the acquiring party to receive US$0.16 million immediately and eliminate any future uncertainty and risk of default. The total amount to be written off in the Company's 2009 results as a result of the acquirer's default on the original agreement is expected to be £0.25 million.\nThe Company's 2009 preliminary results will be released by 31 March 2010. \n \n \n \n \nFor further information please contact:\n\n\n\n\nMark Ireland\n\n\nCSS Stellar plc\n\n\n020 7332 2002\n\n\n\n\n\nLuke Cairns / Avi Robinson\n\n\n\nAstaire Securities plc\n\n\n020 7448 4400\n\n\n\n\n\n\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END TSTEAKAEFSPEEFF \n ","length":2918,"tagName":"div"}]