Cellcast : Cancellation of joint venture

March 6th  2015

Cellcast plc

("Cellcast " or "the Company ")

Cancellation of joint venture

On 30 May 2014, Cellcast (AIM; CLTV) announced that the Company had entered into a joint venture ("Joint Venture"), with the principals of the Atlas Group of Companies (the "JV Partners"), whereby Cellcast agreed to invest £1.0 million for a 49% equity interest in Euro TV SA ("Euro TV").  Cellcast and the JV Partners have today mutually agreed to cancel the Joint Venture, as the directors of Cellcast believe that the funds committed by the Company to the Joint Venture would be better utilised pursuing other business expansion opportunities. 

The Joint Venture will return to Cellcast the amount it has committed to the Joint Venture and Cellcast will deploy these funds elsewhere in the business as appropriate. As previously announced by the Company, the directors of Cellcast are continuing to explore new exploring new genres of interactive multiplatform TV, primarily focussed on the gaming and gambling sectors.

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