TIDMMSQ 
 
RNS Number : 4393R 
Media Square PLC 
23 August 2010 
 

 
 
 
23 August 2010 
 
Media Square plc (the "Group" or "MSQ") 
 
COMPLETION OF ASSET DISPOSAL 
 
Further to our conditional announcement of 9 February 2010, Media Square plc 
(AIM: MSQ), the international marketing communications group, today announces 
that it has completed its transaction to sell the trade and certain assets of 
twentysix NewYork ("26NY"). 
 
Since the original announcement in February, Dynamics Ventures LLC has assigned 
its obligations under the Purchase Agreement to Tallan Inc., a leading provider 
of software consultancy services, which has become the primary purchaser of the 
trade and assets, with Dynamics Ventures remaining a guarantor of the Agreement. 
 
The terms of the transaction have also been revised to reflect the weaker 
underlying trading performance of 26NY since February. Under the revised 
agreement, initial proceeds from the disposal will be approximately $1million in 
cash, comprising up-front consideration on completion and the unwinding of the 
working capital position over the period following completion (since MSQ will be 
retaining the majority of net assets).  In addition, the consideration could 
increase by up to $2.5million in cash based on the performance of 26NY over the 
six month period post completion. 
 
In its last reported financial year to 28 February 2010, 26NY generated turnover 
of US$6.0 million and headline operating profit of US$0.2 million.  The 
business' gross assets as at 31 July 2010 were approximately US$0.8 million, 
excluding cash, goodwill and inter-company items.  The proceeds from the 
transaction will be used to pay down debt. 
 
Peter Reid, Chief Executive of Media Square, commented, "We are pleased to have 
completed this transaction. Tallan is a much more logical home for 26NY than 
MSQ, given our focus on marketing communications, and we wish both businesses 
well in the future." 
 
For further information please contact: 
 
+----------------------------+-------------------------------------+ 
| Media Square plc           | www.mediasquare.co.uk               | 
+----------------------------+-------------------------------------+ 
| Roger Parry                | 020 3026 6601                       | 
+----------------------------+-------------------------------------+ 
| Peter Reid                 | 020 3026 6607                       | 
+----------------------------+-------------------------------------+ 
|                            |                                     | 
+----------------------------+-------------------------------------+ 
| Collins Stewart Europe     |                                     | 
| Limited                    |                                     | 
+----------------------------+-------------------------------------+ 
| Adrian Hadden/Stewart      | 020 7523 8350                       | 
| Wallace                    |                                     | 
+----------------------------+-------------------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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