TMS television & media services limited

replaces cfo

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    Ross Pearson, the long serving CFO and Company Secretary of lhe TMS Group has resigned. According to today's ASX release, Pearson left TMS yesterday (31 March 2003).

    According to the monthly statement of cashflows, TMS was cashflow positive in February, to the tune of $654K. Revenues for the month were $3.784m.

    Cash at month's end was -$964k.

    Loan facilities in place remained at $59.446m, of which $56.569m had been utilised by month's end.

    Some more information concerning the Val Morgan disposal was included in the monthly report (these details had previously been omitted from earlier monthly reports).

    In this instance, the entity whose disposal details were noted comprised Val Morgan & Co (Australia) Pty Ltd which, at the time of disposal held net assets of $1.988m. Consideration recorded as having been received for the disposal totalled $593,000.

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