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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of April 2007
FUTUREMEDIA PUBLIC LIMITED COMPANY
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(Translation of registrant's name into English)
Nile House, Nile Street, Brighton BN1 1HW, England
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No [X]
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ________
This Form 6-K is hereby filed and incorporated by reference in Futuremedia PLC's
Registration Statements on Form F-3 (File No. 333-131314), Form F-3 (File No.
333-128173), Form S-8 (333-128875), Form S-8 (333-128873) and Form S-8
(33-11828).
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FUTUREMEDIA ANNOUNCES COMPLETED SALE OF SWEDISH SUBSIDIARY
BRIGHTON, England, April 12 /PRNewswire-FirstCall/ -- Futuremedia plc
(Nasdaq: FMDA) a leading learning and brand communications provider, today
announced that it has completed the sale of its Swedish subsidiary, Open
Training, to the Edvantage Group AS. Futuremedia will record an estimated gain
from the sale, calculated on the net book values of the net assets transferred.
The sale price was SEK 7.2 million (GBP 522,000) ($1.03 million) which
comprises an initial cash payment of SEK 1.5 million (GBP 109,000) ($215,000)
plus a four year loan note obligation for a total of SEK 5.7 million (GBP
413,000) ($816,000) payable over four years. Futuremedia will retain the full
rights of ownership and all intellectual property for Learngate(TM), the
Learning Management System developed by Open Training on behalf of Futuremedia.
Edvantage Group AS will have a perpetual license to use this technology without
limitation.
These figures are quoted using an exchange rate of SEK 1 to GBP 0.0724.
About Futuremedia
Futuremedia plc is a global media company providing online education,
e-marketing and brand communications services to public and private sector
organizations. Established in 1982 and listed on the Nasdaq in 1993, we help our
clients to communicate their values, product and brand information to employees,
customers and industry, and we believe that education, or learning, is a key
component in the communication mix. Futuremedia divisions are Futuremedia
Learning and Button Communications. For more information, visit
www.futuremedia.co.uk
"Safe Harbor" Statement under Section 21E of the Securities Exchange Act of
1934: This press release contains forward-looking statements related to future
results and speaks only of Futuremedia's expectations as of the date hereof.
Such statements include expectations regarding: the expected benefits from new
sales, contracts or products; the expected benefits and success of operations in
new markets; the expected benefits of expanding the sales operations of group
companies into new geographical markets; the expected benefits of acquisitions;
the expected benefits of financing arrangements; and the Company's future
financial condition and performance. Such statements involve known and unknown
risks and uncertainties that may cause actual results to differ materially from
expectations. The risks and uncertainties include: risks associated with the
Company's ability to develop and successfully market new services and products
(including the risk that such products may not be accepted in the market), risks
relating to operations in new markets (including the risk that such operations
may not deliver anticipated revenue or profits); risks associated with
acquisitions (including the risk that such acquisitions may not deliver the
benefits expected by management and risks associated with integration of
acquisitions generally); risks that financing arrangements could result in
substantial dilution to shareholders because of subscription prices below the
current market value of the Company's ADSs or other factors; risks relating to
the Company's ability to operate profitably in the future; risks associated with
rapid growth; the Company's ability to successfully develop its business in new
geographic markets; the early stage of the e-learning market; rapid
technological change and competition; and other factors detailed in the
Company's filings with the US Securities and Exchange Commission. The Company
expressly disclaims any obligation to release publicly any updates or revisions
to any such statement to reflect any change in expectations or in information on
which any such statement is based. All product names and trademarks mentioned
herein are trademarks of Futuremedia or their respective owners.
SOURCE Futuremedia plc
-0- 04/12/2007
/CONTACT: US - Mike Smargiassi orCorey Kinger of Brainerd Communicators,
Inc., +1-212-986 6667, ir@futuremedia.co.uk, for Futuremedia; or UK - Gerry
Buckland, +44 7919 564126, infomac1@mac.com /
/Web site: http://www.futuremedia.co.uk/
(FMDA)
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
FUTUREMEDIA PLC,
an English public limited company
By: /s/ Leonard Fertig
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Leonard Fertig
Chief Executive Officer
Date: April 12, 2007