CHO Charterhse.Com.

RNS Number:6007Q
Vitesse Media PLC
02 February 2007




VITESSE MEDIA PLC - ACQUISITION, PLACING OF SHARES, TRADING UPATE AND DIRECTOR
SHAREHOLDING


Vitesse Media plc, the specialist multi media business (online, events and
print) focusing on the entrepreneurial sectors and its investors, today
announced the acquisition of What Investment magazine, its associated web site
www.whatinvestment.co.uk, and a quarterly supplement What Investment Trust along
with certain other assets from Charterhouse Communications plc for a net cash
payment of #500,000. Five employees will be transferred to Vitesse Media with
the assets.

What Investment is a monthly newsstand magazine with an ABC audited circulation
of over 21,000, of which around 17,000 are subscribers. The title and its web
site offer synergies and a marketing platform for one of our leading brands
Growth Company Investor and an opportunity to develop the online presence and
new events. Unaudited figures which have been taken from the results for the
year ending 31 May 2006, and which are attributable to these assets show
revenues of #895,000 and gross profit of #106,000.

The net cash payment of #500,000 is made up of a cash consideration of #626,000
with a refund of #126,000 of prepaid subscriptions by the vendor. The payment is
being funded by a placing of 2,787,500 ordinary shares in the company at 20p to
raise #557,500 before expenses (the "Placing"), plus an increase in bank
facilities. Application has been made for admission of the new ordinary shares
to trading on AIM and dealings in the new ordinary shares issued under the
Placing are expected to commence at 8.00am on 6 February 2007. The Acquisition
and the Placing are both subject to the placing shares being admitted to trading
on AIM.
t
As part of the Placing Andrew Brode, a non-executive director in the Company,
will subscribe for 500,000 shares at 20 pence per share. Following this Andrew
will have a shareholding of 550,000 ordinary shares representing 2.63% of the
issued share capital of the Company.


Vitesse Media's trading continues in line with the statement accompanying the
interim results in September, showing a reduction in losses. For the full year
to 31 January, revenues are expected to be between #3.1 and #3.2 million and
losses are expected to reduce to around #350,000 (before one-off costs due to
office move).


Commenting on the acquisition, Sara Williams, Chairman of Vitesse Media plc,
said: "We are delighted to add What Investment and www.whatinvestment.co.uk to
our stable of titles. The purchase will increase our marketing reach for other
titles and events, as well as providing us with a wonderful opportunity to
develop new events."



For further information please contact:

Vitesse Media plc                   020 7250 7010
Sara Williams
Kym Kingwill

KBC Peel Hunt                       0207 972 8900
Patrick Booth-Clibborn
Gordon Suggett



                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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