Issue of Equity Replacement
15 7월 2009 - 2:35AM
UK Regulatory
TIDMASG
RNS Number : 6694V
Avanti Screenmedia Group PLC
14 July 2009
14 July 2009
Avanti Screenmedia Group plc
("Avanti" or the "Company") (AIM: ASG.L)
Issue of Equity - Replacement
The following announcement replaces RNS 6613V due to the omission of some text
in the first paragraph which should read as follows
"The Board is pleased to announce that Neo Media Group SA has today converted
GBP300,000 of Loan Notes in Avanti into 30,000,000 ordinary shares. Following
the Neo Media Subscription, Neo Media will hold 47,636,363 ordinary shares,
representing 29.4 per cent of the enlarged issued share capital, and convertible
loans which upon full conversion will require the issue of a further
125,000,000 new ordinary shares. Upon full conversion of their convertible loan
notes Neo Media will own up to a maximum of 60.2 per cent of the Company's
enlarged issued share
capital.".
The revised full text is as shown below:
The Board is pleased to announce that Neo Media Group SA has today converted
GBP300,000 of Loan Notes in Avanti into 30,000,000 ordinary shares. Following
the Neo Media Subscription, Neo Media will hold 47,636,363 ordinary shares,
representing 29.4 per cent of the enlarged issued share capital, and convertible
loans which upon full conversion will require the issue of a further 125,000,000
new ordinary shares. Upon full conversion of their convertible loan notes Neo
Media will own up to a maximum of 60.2 per cent of the Company's enlarged issued
share capital.
The Company has also today issued 6,750,000 ordinary shares to Gary Truman, CFO,
in lieu of cash remuneration owed to him under the terms of his contract. Mr
Truman now has a shareholding of 17,064,107 being 10.5% of the issued ordinary
share capital of the Company.
Accordingly application has been made for the 36,750,000 new ordinary shares to
be admitted to trading on AIM and it is expected that admission will take place
on 20 July 2009. The new ordinary shares will rank pari passu with the existing
shares of the Company. Following this issue the total issued share capital of
the Company will increase to 161,763,636 ordinary shares of 1 pence each. A
total of GBP 1.8m Loan Notes remain in issue.
+---------------------------------------------------------+---------------------------+
| Avanti Screenmedia Group plc | 020 7902 2345 |
| Jamie Ball, Managing Director | |
| Gary Truman, CFO | |
| | |
+---------------------------------------------------------+---------------------------+
| Charles Stanley Securities | 020 7149 6000 |
| Nominated Adviser | |
| Russell Cook/Freddy Crossley | |
| | |
+---------------------------------------------------------+---------------------------+
| Bishopsgate Communications Limited | 020 7562 3355 |
| Robyn Samuelson/Siobhra Murphy | |
+---------------------------------------------------------+---------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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