Business
NPA - termination of recognition
NPA - termination of recognition.
About this update from Reabold Resources Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 5002D Adventis Group PLC 23 March 2011 \n \n\n23 March 2011\n \nAdventis Group Plc (\"Adventis\" or the \"Group\")\n \nNewspaper Publishers Association (\"NPA\") Termination of recognition\n \nOn March 22 2011 a notice dated 21 March 2011 was served on the Group by the NPA advising of the termination of NPA recognition for the Group's media companies, Adventis Coltman Limited and Adgenda Media Limited (the \"Adventis media companies\"), due to concern regarding the financial performance of the Group. \n \nThe consequences of the withdrawal of recognition would be the loss of the 15 per cent discount and 30 days' credit offered by publishers to media buying agencies. The Adventis media companies accounted for 21 per cent. of the Group's unaudited revenue in the six months ended 30 June 2010, the most recent period for which financial information for the Group has been published.\n \nThe Group has been given 30 days in which to appeal against this decision and steps have been taken to lodge such an appeal.\n \nIn addition to the appeal, the Board is also considering the immediate sale of the Adventis media companies to another NPA recognised media agency. Further to a meeting held with the NPA on March 22 2011, the NPA has indicated that the notice will be immediately withdrawn on presentation of signed Heads of Terms of a sale of the Adventis media companies to another NPA recognised agency.\n \nThe Group will keep shareholders informed of any developments.\n \nEnquiries:\n \nAdventis Group Plc \nCharles Phillpot, CEO Tel: 01494 731608 \n \n \nArbuthnot Securities Limited\nTom Griffiths Tel: 020 7012 2000 \n \nEND\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCJJMITMBATBMB\n\n \n ","length":3640,"tagName":"div"}]