Premier Management Holdings PLC
07 April 2006
7 April 2006
Premier Management Holdings Plc ('Company')
Winding up of subsidiary undertaking
The Company has received a High Court petition dated 5 April 2006 from HMRC for
the winding up of its non-trading subsidiary Sports Player Management Limited
('SPM') under the provisions of the Insolvency Act 1986 relating to unpaid
arrears of unpaid taxes dating back to the financial year ended 28 February
2002. SPM ceased trading during the financial year ended 31 January 2005 and as
such the Company has decided not to contest the petition. The Company does not
owe any money to SPM and has not guaranteed or otherwise underwritten any of its
debts. Accordingly, the financial impact of the winding up of SPM on the Company
is not expected to be material.
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