CSS Stellar PLC
16 May 2006
For Immediate Release 16 May 2006
CSS Stellar plc
('CSS' or 'the Group')
Annual General Meeting Statement
CSS Stellar plc, the entertainment and sports management and marketing group,
held its Annual General meeting at 9.30am today at which time Peter Owen,
Chairman, updated shareholders on current trading.
'Overall trading across the Group in the first four months of this year was in
line with the Board's expectations. The Events and Talent Management divisions
performed in line with expectations with the Events Division again having had a
good start to the year. The Marketing Division, which underwent significant
changes in 2005, has stabilised since the turn of the year.
Our Talent Management division has had some notable successes so far in 2006. In
Entertainment, Anna Maxwell Martin recently won the BAFTA for Best Actress for
Bleak House, the BBC Television drama serial. The Sports division has signed
Formula One driver Tiago Monteiro, who showed significant potential in his debut
year in 2005; in Golf, our strategy of building a profitable representation
business is beginning to bear fruit, as two of our clients, Francesco Molinari
and Gonzalo Fernandez-Castano, secured victories on the European Tour within the
past month.
Our Marketing Division, having undergone major structural changes in the latter
part of 2005, is now based wholly in North America, and continues to work with
major clients such as Diageo, GE and NBC.
Our central overhead cost base has been further reduced in 2006 as the Group
continues to achieve cost savings where possible. The Board is now primarily
focused on maximizing shareholder value through opportunities closely aligned
with the entertainment industry.'
All of the resolutions proposed at the Annual General Meeting were approved,
including those relating to the sub-division and reduction of the share capital,
as outlined in the report and financial statements for the year ended 31
December 2005. The Company will now commence the Court process to confirm the
reduction of capital.
For further information please contact:
CSS Stellar Tel: 020 7078 1400
Sean Kelly, Group Chief Executive
Buchanan Communications Tel: 020 7466 5000
Bobby Morse/Rebecca Skye Dietrich
This information is provided by RNS
The company news service from the London Stock Exchange