10 Jun 10

Coolabi plc

“Coolabi” or “the Company”

AGM Statement

Coolabi PLC (AIM: COO), the media company focused on the ownership and creative management of high quality intellectual property assets,  will hold its Annual General Meeting today at the offices of Speechly Bircham LLP, 6 New Street Square, London EC4A 3LX at 9:30am.

Following the formal business of the AGM the Company will provide the following update to shareholders:

As we reported in our Final Results, the 18 months to the end of December 2009 was a transformational period for the Group. During this time we delivered material organic growth and produced a positive EBITDA. We also enhanced the underlying value of the assets in our wide portfolio of intellectual properties.  

Trading in the current year continues to be in line with our expectations and we have made good progress as a Group. We have been very pleased that the Coolabi story is attracting some of the best talent in our industry. At the beginning of this year we announced the appointment of Anna Hewitt, former Head of International Licensing at BBC Worldwide, as Head of Licensing and earlier this month we announced the appointment of Zoë Scurfield, a former senior executive at Disney, as Head of Development and Production.

In the current year we have advanced our exploitation of the Scarlett & Crimson brand, a teen and tween girl focussed property that we jointly own with its creator, Ged Backland. Earlier in the year we announced that Superdrug had signed an agreement to stock Scarlett & Crimson cosmetics, developed by Ruby Hammer and Millie Kendall, in 400 Superdrug stores across the UK from mid-April. Following on from this we signed new licences with Poetic Gem for clothing and with Myridium to produce branded perfumes and hairstyling sets.

This morning we were also able to announce an extension of our agreement with Ruby Hammer and Millie Kendall beyond the UK and to include all global product development of Scarlett & Crimson beauty products. We also announced the signing of a new licence with a leading beauty company Japonesque to produce a Scarlett & Crimson cosmetics range for the US and Canadian markets. More details of these announcements are available on the RNS Reach released separately this morning.

As stated in our Final Results announcement in March the timing of a number of projects is such that we expect the second half of this year to be considerably stronger than the first and with trading in line with expectations we remain confident of our ability to deliver good EBITDA growth.

Enquiries:

Notes to Editors:

About Coolabi plc (http://www.coolabi.com)

Coolabi is an AIM listed media group focused on the ownership, development, production and creative management of high quality intellectual property assets and their global exploitation.