Aeorema Comm. Regulatory News (AEO)

5 Apr 2005 13:53

Cheerful Scout PLC05 April 2005 Cheerful Scout Plc: Ticker: CLS / Index: AIM / Sector: Media Cheerful Scout plc ("Cheerful Scout" or "the Company") Issue of Equity Cheerful Scout, the AIM listed multi media group is pleased to announce that ithas raised £525,000 before expenses through the placing of 50,000,000 newordinary shares of 0.5p each at 1.05p per share. The funds raised will be usedto fund sales and marketing of the Company's new product, nVision Presenter andto further develop its nVision Strategy product. Cheerful Scout Chairman Stuart Appleton said: "We have raised the new funds aswe feel we have a great opportunity with our new products and want to trulycapitalise on their market potential. The first product is a new high-endpresentation tool, nVision Presenter. The system delivers real-time 3D graphicsand provides an impressive widescreen platform that brings together all mannerof visual media on one highly impressive 'virtual stage'. Unlike other productin the market, it has the power to render graphics in real-time and thus allowsfor all kinds of hitherto almost impossible interactive opportunities. Initialfeedback has all been extremely positive. As stated in our last announcement wehope to launch a second nVision product later this year that takes thetechnology to another level and into a different market sector." Application has been made for the admission of 50,000,000 new ordinary shares totrading on the AIM market. The new ordinary shares will rank pari passu with theexisting ordinary shares of the Company and dealings in the new ordinary sharesare expected to commence on 8 April 2005. ENQUIRIES: Gary Fitzpatrick Cheerful Scout Tel: 020 7291 0444Isabel Crossley St Brides Media Tel: 020 7242 4477 Notes:Cheerful operates its business in three core areas: production of DVD's for theretail sector, where it has delivered more than 300 DVD projects to dateincluding high profile series such as Bad Girls, Footballers Wives and Spooks;corporate communications, producing programmes for blue-chip clients includingAllen & Overy; and its new products under the nVision technology brand. This information is provided by RNS The company news service from the London Stock Exchange