Sport Capital Group Plc - Disposal

Sport Capital Group Plc - Disposal

PR Newswire

London, February 14

SPORT CAPITAL GROUP PLC

("Sport Capital Group" or the "Company")

Preliminary Disposal Agreement

On 17th January 2019, the Company announced the acquisition of Sport Capital Group Holdings Limited ("SCGH"), the parent company of Sports Capital Group Investments Ltd. ("SCGI"), sole owner of Italian football club, US Città di Palermo SpA, in Palermo, Sicily, and of Mepal Srl, the club's intellectual property and stadium project, for a nominal sum.

Following events in recent weeks that have prevented the Company's relaunch of US Citta di Palermo, the Company has decided to accept a proposal to sell for a nominal value Palermo Football Club SpA, US Citta di Palermo SpA and Mepal Srl, to a group led by the historic management team, dott.ssa De Angeli. Loan notes and debts associated with the transaction structure will be settled at the same time.

Sport Capital Group said, "After extensive consideration, Sport Capital Group has agreed the sale of the football club Città di Palermo. Following discussions with investors and the results of further due diligence, the Board decided that the club would be better suited to another owner. We are confident the new owners will be able to take Palermo forward successfully and are well suited to running the club."

Disclosures

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR") and is disclosed in accordance with the Company's obligations under of MAR.

Sport Capital Group plc,
Simon Grant-Rennick,
Chairman
14th February 2019

This announcement has been made after due and careful enquiry. The Directors of Sport Capital Group plc accept responsibility for its content.

REGULATORY ANNOUNCEMENT ENDS

Enquiries

Sport Capital Group plc: Simon Grant-Rennick
E-mail: [e-mail]
Mob: [phone]

Keith, Bayley, Rogers & Co. Limited (NEX Exchange Corporate Adviser and Broker):

Graham Atthill-Beck
E-mail: [e-mail]
Tel: [phone]
Mob: [phone]

Brinsley Holman
E-mail: [e-mail]
Tel: [phone]
Mob: [phone]

Financial PR
Damson Communications:
Abigail Stuart-Menteth
Tel: [phone]
E-mail: [e-mail]