Prof-Media has issued a formal response to the rumours circulating in the Russian press concerning their delisting on the London Stock Exchange. Prof-Media is the majority share holder in Rambler Media, the company operating the Rambler search engine portal in Russia and the majority shareholder in the PPC engine Begun.ru.
In December 2006 and January 2007, Prof-Media, a leading Russian diversified media company, acquired in a series of transactions approximately 55% of Rambler Media’s issued and ordinary share capital. Currently, Prof-Media does not envisage any further significant purchases of shares in the Company. Rambler Media’s shares are listed on the AIM market of the London Stock Exchange and Prof-Media is interested in their healthy trading market and further appreciation.