11 August 2006
Ministry of Sound exercise share option in The Core Business
The Core Business plc ("The Core Business" or 'the Company'), the innovative beauty brand building business, announces today that Ministry of Sound, through its ultimate holding company Nimbus Holdings Ltd, has elected to exercise its option to subscribe for shares in the Company.
Ministry of Sound has subscribed for 2,119,822 ordinary shares in the Company at the price of 4 pence per share, the equivalent of five per cent of the enlarged ordinary share capital of The Core Business. Application has been made for the ordinary shares to be admitted to trading on AIM on 14 August 2006.
The share option was granted as part of a brand licensing agreement announced on 29 June under which The Core Business is developing a range of male grooming and female beauty products for the music, entertainment and lifestyle brands, "Ministry of Sound" and "Hed Kandi".
The Core Business Executive Brand Director May Jennings is working closely with Ministry of Sound and Hed Kandi to develop the product ranges for launch in 2007.
Stirling Murray, Chief Executive of The Core Business, said:
"I am delighted that Ministry of Sound has decided to exercise its option to subscribe for shares in the company. This is a powerful endorsement of The Core Business and demonstrates a strong belief in our potential to deliver value for shareholders."
ENDS
For further information, please contact:
The Core Business plc
Stirling Murray, Chief Executive 020 7483 4300
www.thecorebusiness.co.uk
Aquila Financial Ltd
Peter Reilly 020 7202 2601
Vivienne Macey 020 7202 2602
www.aquila-financial.com
ARM Corporate Finance
Nick Harriss 020 75120191
Notes to Editors
The Core Business
The Core Business was established in May 2004 by Stirling Murray to create, develop, launch and distribute personal care and beauty brands. It also provides consultancy and brand management services.
The Core Business listed on AIM in March 2006 under the ticker 'CORE'
www.thecorebusiness.co.uk
Ministry of Sound
Ministry of Sound is one of the most widely-recognised names in the music, entertainment and lifestyle industries. The brand includes Europe's biggest independent record label, international clubs and bars and a wide range of branded products including a top-selling consumer electronics range, fashion and accessories.
www.ministryofsound.com
Hed Kandi
Hed Kandi was established in 1999 as a record label specialising in house music, which has since developed into a lifestyle brand including merchandise, a radio show and nightclub events across the UK and worldwide.
www.hedkandi.com
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