Mayfair Media - Chesterfield Properties PLC Pursuing a Restructuring of MMC.CALGARY, ALBERTA--(BUSINESS WIRE)--April 10, 1997--Mayfair Media (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). MFA See multifactor authentication. .) Mayfair Media Corporation ("MMC See MultiMediaCard and Microsoft Management Console. ") announced today that it has been advised that its controlling shareholder, Chesterfield Chesterfield, city (1991 pop. 73,352) and district, Derbyshire, central England. An important industrial center, Chesterfield produces mining equipment, railroad cars, metal products, glass, and pottery. Properties PLC ("Chesterfield"), London, England, is actively pursuing a restructuring of the principal business of MMC. MMC is an Alberta corporation listed on The Alberta Stock Exchange (Symbol MFA), of which Chesterfield is the controlling shareholder through its subsidiary Mayfair Entertainment Group Limited. MMC's principal business is conducted through its UK subsidiary, Mayfair Entertainment International Limited ("MEI"), an international film and television sales company. Chesterfield, as part of a restructuring of its UK business, is seeking to divest To deprive or take away. Divest is usually used in reference to the relinquishment of authority, power, property, or title. If, for example, an individual is disinherited, he or she is divested of the right to inherit money. itself of its film operations and, as a result, has indicated that its financial support of MMC and MEI may not be continued. The Board of MMC recognizes the efforts made by the management of MMC and MEI and their significant achievements to date to establish a presence in the film and television industries. Robert Simon, Michael Steele Michael Steele may refer to
MMC has requested that the Alberta Stock Exchange halt trading of its shares until details of the restructuring and the constitution of a new Board of Directors have been released. Further details of the restructuring are expected to be released by April 30, 1997. -0- The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: Mayfair Media Corporation Roger Wingate, 011/44-171-465-1500 |
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