News blog
Electric Word
- BY: Andrew Hore |
- POSTED: 22/02/2008 |
Educational and sport information publisher Electric Word has exercised its option to by Special Education Publishing.
SEP publishes three magazines for primary school teachers: ‘Special Children’, ‘Teaching and Learning’ and ‘PE and Sports Today’. There will be cross-selling opportunities with Electric Word’s other Educational products.
Electric Word is paying £875,000 in preference shares convertible at 13.25p – nearly double the current share price of 6.875p. There is no dividend payment on the preference shares. SEP lost £42,000 in the period between 12 September 2007 and 31 December 2007. NAV was £825,000 at the end of 2007.
SEP is being bought from Sussex Research, which owns 16.18%, while its controlling shareholder Stuart Newton holds 0.72% of Electric Word.
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