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EVT LIMITED — Capital/Financing Update 2008
Sep 25, 2008
64888_rns_2008-09-25_f7d8efbb-3eee-499a-9b46-6403926a5280.pdf
Capital/Financing Update
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26 September 2008
ASX RELEASE
SALE OF ATLAB GROUP
Amalgamated Holdings Limited (ASX code: AHD) has today announced that it has signed an agreement with Deluxe Entertainment Services Group Inc (Deluxe) for the sale of AHD’s remaining 50% shareholding in the Atlab Group of Companies (Atlab). The consideration for the sale is A$1.5 million. The sale price is equivalent to AHD’s carrying value of Atlab and, as a result, there will be no material profit or loss from the sale. The sale is effective from 26 September 2008.
Atlab has been a joint venture between AHD and Deluxe since 10 September 2002. Atlab undertakes multiple-release film printing and post production services to the film and entertainment industry.
The sale price includes an upfront payment of $500,000 with the balance deferred and payable no later than 30 June 2009. The sale of the 50% interest in Atlab is not anticipated to have a material impact on the profit of AHD.
The sale does not include the Atlab Image and Sound Technology digital cinema business or the Filmlab Engineering business.
For further information telephone 02 9373 6600:
Mr David Seargeant Managing Director Mr Greg Dean Company Secretary
Amalgamated Holdings Limited ABN 51 000 005 103 10[th] Floor, 49 Market Street Sydney NSW 2000