Business
Ministry of Sound option
Ministry of Sound option.
About this update from Tern Plc
[{"type":"text","content":"\n Core Business PLC (The)\n11 August 2006\n\n\n\nPRESS RELEASE\nFor immediate release: 11 August, 2006\n\n\n\n Ministry of Sound exercises share option in The Core Business\n\n\nThe Core Business plc ('The Core Business' or 'the Company'), the innovative\nbeauty brand building business, announces today that Ministry of Sound, through\nits ultimate holding company Nimbus Holdings Ltd, has elected to exercise its\noption to subscribe for shares in the Company.\n\nMinistry of Sound has subscribed for 2,119,822 ordinary shares in the Company at\nthe price of 4 pence per share, the equivalent of five per cent of the enlarged\nordinary share capital of The Core Business. Application has been made for the\nordinary shares to be admitted to trading on AIM on 14 August 2006.\n\nThe share option was granted as part of a brand licensing agreement announced on\n29 June under which The Core Business is developing a range of male grooming and\nfemale beauty products for the music, entertainment and lifestyle brands,\n'Ministry of Sound' and 'Hed Kandi'. The Core Business Executive Brand Director\nMay Jennings is working closely with Ministry of Sound and Hed Kandi to develop\nthe product ranges for launch in 2007.\n\nStirling Murray, Chief Executive of The Core Business, said:\n\n'I am delighted that Ministry of Sound has decided to exercise its option to\nsubscribe for shares in the company. This is a powerful endorsement of The Core\nBusiness and demonstrates a strong belief in our potential to deliver value for\nshareholders.'\n\nENDS\n\nFor further information, please contact:\n\nThe Core Business plc\nStirling Murray, Chief Executive 020 7483 4300\nwww.thecorebusiness.co.uk\n\nAquila Financial Ltd\nPeter Reilly 020 7202 2601\nVivienne Macey 020 7202 2602\nwww.aquila-financial.com\n\nARM Corporate Finance\nNick Harriss 020 7 5120191\n\n\n\nNotes to Editors\n\n\nThe Core Business\n\nThe Core Business was established in May 2004 by Stirling Murray to create,\ndevelop, launch and distribute personal care and beauty brands. It also provides\nconsultancy and brand management services.\n\nThe Core Business listed on AIM in March 2006 under the ticker 'CORE'\n\nwww.thecorebusiness.co.uk\n\n\n\nMinistry of Sound\n\nMinistry of Sound is one of the most widely-recognised names in the music,\nentertainment and lifestyle industries. The brand includ...