Incestuous dealings!30 Mar 2012 08:30
Westside Investments Plc, formerly Westside Acquisitions Plc, is a United Kingdom-based company. The principal activity of the Company is to make investments in or to acquire early-stage companies operating in the sectors of sport, technology and general investment. The subsidiaries of the Company include Reverse Take-Over Investments Plc (RTI), Football Partners Limited and Sport in Schools Limited. Reverse Take-Over Investments plc specializes in shell companies, which are used to make substantial acquisitions with the view to obtain a public quotation for the shell. Football Partners Limited carries on the business of running small-sided football leagues. Sport in Schools Limited provides sports coaching in schools.
MES Messaging International, the AIM traded provider of innovative messaging services, announces the completion of the Buyback and Capital Cancellation.
As a result, 80,007,853 Ordinary Shares in the Company will be cancelled and the total number of Messaging International ordinary shares of 0.5 pence each in issue will be 155,872,147.
In addition, in accordance with the terms of the Buyback Agreement, following completion of the Buyback, Pacific Continental Securities (UK) Limited ("Pacific") has been granted the Option to subscribe for up to 10,000,000 new Ordinary Shares at 0.5 pence per share exercisable in whole or in part, which will lapse on the earlier of three years from the date of grant or the date on which Pacific is dissolved. Further details of the Buyback and Capital Cancellation can be found in the circular to shareholders dated 23 November 2011. Capitalised terms used in this announcement are as defined in the circular to shareholders.
The Company confirms that current trading continues to be in line with management expectations