Business
Investor Day & Notification -
Investor Day & Notification -.
About this update from Stv Group Plc
[{"type":"text","content":"\n RNS Number : 3641X SMG PLC 24 June 2008 \n \nSMG plc - Analyst and investor day and notification of proposed name change\n\nSMG plc will be hosting a visit to its headquarters in Glasgow for investors and analysts today to provide an update on the core broadcasting business, stv. The presentation will not contain a trading update. \n\nThe Board confirms that trading continues in line with the IMS made on 16 May and the Board remains confident of meeting its 2008 expectations. In addition, as a result of our tax planning, the Board believes that the Group will gain a cash benefit of £10m across the period 2008 to 2011. \n\nToday's meeting will focus on the Group's growth strategy and new media strategy. A copy of the full presentation will be available in the investor section at www.smg.plc.uk from 12noon today. \n\nProposed Name Change\nThe Board of SMG plc is proposing to rename the company stv Group plc. The proposed name change follows the disposal of Primesight and the completion of the sale of Virgin Radio, scheduled for the 30 June 2008, and fits with the company's strategy to focus on the broadcasting business built around its unique position in Scotland. Information about this proposal and details of the £30m cash return to shareholders will be sent to shareholders in due course.\n\nA summary of today's highlights is below:\n\nThe senior SMG management team will update the audience today on the growth plans for the business. SMG is a re-focussed company, centred around the broadcasting; content; and ventures business units. The business is now operationally lean, has a strong commercial focus and maintains creativity at the heart of the company. \n\nBroadcasting Highlights:\n\n\nThe brand reach is strong in Scotland with 4 million of the population watching stv every week. Our premier news programmes, Scotland Today and North Tonight continue to outperform the competition with a 26% share and in regional advertising the team continue to deliver doub...