December 27, 1999 07:00am
Private Media Group Responds To Questions About Possible Flotation On The London Stock Exchange
by: Private Media Group Inc.
(BARCELONA, Spain) -- Private Media Group Inc. (Nasdaq: PRVT - news), a leader in premium-quality adult entertainment products and services since 1965 and the first such company trading on the Nasdaq National Market, today responded to a sizeable number of media and investor queries from the UK concerning the possibility of the Company's application for a listing on the London Stock Exchange (LSE).
CEO of Private Media Group, Berth Milton, issued the following official statement: "In response to persistent questions from the media and investors, I would like to say that we welcome such enquiries from the UK. We have had a number of stock broker and securities firms calling the Company offering their services to assist us in a flotation on one of the London stock markets. Let me confirm that, as the leading adult entertainment company in the world with a diversified lifestyle portfolio, Private Media Group Inc. is indeed interested in being listed in the UK and we are talking to various parties about such a possibility. Over the past year, in particular, Private Media Group has garnered substantial positive publicity in the UK, in both print and broadcast media, and this has contributed to an accumulation of speculation and rumors."
"In terms of overall UK publicity," Mr. Milton continued, "we have been featured on BBC's 'Timewatch' and 'Panorama' programs, on Channel 4's 'A Secret History of Civilization' and will soon be profiled on Channel 5. We have also been featured in print media as diverse as 'The Sunday Times' and 'The Face', 'The Mail On Sunday' and 'Q' magazine. We feel particularly encouraged by the fact that this coverage has covered topics such as our historic listing on the Nasdaq National Market in the US, our role as pioneers in the worldwide adult industry, our quality adult products and services, our Private Circle range of urban fashionwear, the distribution of the Private Dynamite Energy drink in the UK and our general lifestyle philosophy. As a global enterprise, we are enthusiastic about such developments in the UK and look forward to furthering our already strong presence in that market."
Private Media Group Inc. commenced operations in 1965. Its primary business activities today include the creation, refinement and delivery of proprietary Internet sites and the licensing of its library content and brand name for Internet sites and broadcasting transmission; the acquisition, refinement and delivery of adult feature products, including unrated and adult feature DVDs, magazines, videos, and CD-ROMs; the distribution and licensing of Private's total proprietary product range on the Internet, including DVDs, magazines, videos, interactive services and the Private Circle fashion line; the licensing of its internationally reputable brand name for product lines, including adult novelty product ranges such as Private Collection; the production and control of distribution rights to its Private Dynamite energy drink; and TV Home Shopping for Private's proprietary and licensed products.
For more information visit the Company's corporate website at http://www.prvt.com .
This release contains, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company's current judgments of those issues. However, because those statements are forward-looking and apply to future events, they are subject to such risks and uncertainties, which could lead to results materially different than anticipated by the Company.
SOURCE: Private Media Group Inc.