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Expomedia

  • BY: Andrew Hore |
  • POSTED: 28/01/2009 |

Former directors have bought most of the businesses of exhibitions and conferences organiser Expomedia.

The company’s administrator MCR has sold the main businesses to CS Centralstation Services
Ltd, in which Christopher Stainforth and Mark Shashoua, both Expomedia directors, own 10% each. Expomedia shareholder Stancroft Trust has a 32% stake in CS. The sale agreement was reached on 16 January - the day the shares were suspended and the company went into administration - but it was not announced until 28 January.

CS has bought the main Indian, Polish, Russian, Croatian and UK assets. They cost the new company just over €300,000. CS has the option to buy other assets for an additional €700,000.

The administrator says that this is the best return available for creditors. Shareholders are unlikely to get anything. 

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