Angle Regulatory News (AGL)

5 Jul 2007 07:01

Angle PLC05 July 2007 For immediate release 5 July 2007 ANGLE plc Geomerics fundraising ANGLE plc ('ANGLE') is pleased to announce that one of its eight Progeny(R)portfolio companies, Geomerics Ltd, ('Geomerics') has secured investment of £2.0million from Trinity Hall, Cambridge ('Trinity Hall'). The transaction delivers a profit to ANGLE from fair value gain on its holdingin Geomerics of £4.0 million, which represents a return to date of 3.6x on itsinvestment in Geomerics. This illustrates the inherent value in ANGLE'sexisting portfolio companies, which it aims to realise going forward. Under the terms of the agreement, Trinity Hall is investing £2.0 million for24.0% of the issued share capital of Geomerics' enlarged share capital. Postthe transaction, ANGLE will retain a 47.9% share in the issued share capital. ANGLE founded Geomerics in 2005 to commercialise technology developed by theUniversity of Cambridge's Astrophysics Department. With the assistance ofANGLE's proven management capabilities, Geomerics has developed world-leadingtechnology applications for the computer games industry. Its first commercialproduct, Enlighten, delivers dramatically improved lighting effect capabilitiesfor computer game programmers. Rapid computation of light reflection and refraction in computer animation is akey factor in creation of greater realism in computer games. The computergaming market is forecast to grow at an average 11.4% compound annual rate to$46.5bn by 2010, with strong demand anticipated from Asia Pacific and EMEAregions. Following successful demonstrations at the Games Developer Conference, Geomericshas been invited to join both Microsoft's X-Box 360 Tools program and Sony'sPlay Station 3 tools and middleware programme. Work is currently in progress onthe Software Developer's Kit ('SDK'), which will enable a broad range ofsoftware games publishers to utilise Enlighten's enhanced capabilities in theircomputer games. Andrew Newland, Chief Executive of ANGLE plc said: "Following the recruitment of an industry leading Chief Executive, Gary Lewis,the investment from Trinity Hall represents another major step forward forGeomerics. The Company has a unique patent protected technology platform, whichwe are confident has the potential to revolutionise the growing computer gamesmarket. This deal demonstrates ANGLE's core competencies of commercialisingintellectual property and realising the hidden value in its venture portfoliocompanies." Gary Lewis, Chief Executive of Geomerics Ltd said: "We are delighted with this investment. This gives us precisely what we need toprosecute our immediate business plan and our long-term strategy. We havealready demonstrated the enormous potential of the company and our core IP withour first product 'Enlighten'. This investment will allow us to deliver thefuture products that will continue to revolutionise the games and otherindustries. The next few years are going to be extremely exciting for Geomerics." Paul ffolkes Davis, Bursar of Trinity Hall, Cambridge said: "Trinity Hall is interested in supporting early-stage science-based companies inCambridge, particularly where innovative technology has been developed withinthe University and/or its own Fellowship. The College has been impressed byGeomerics business plan and prospects to the extent of making a largerpercentage investment in it than is typical within its modest Private Equity/Venture Capital portfolio. We are pleased to be partnering ANGLE and theacademic founders in providing resources to help this exciting young companyrealise its potential. For further information: ANGLE plc 01483 295830Andrew Newland, Chief Executive Geomerics Ltd 01223 370030Gary Lewis, Chief Executive Trinity Hall, Cambridge 01223 332531Paul ffolkes Davis, Bursar Buchanan Communications 020 7466 5000Richard Darby, Suzanne Brocks, James Strong Notes to Editors ANGLE Founded in 1994, ANGLE is an international ventures and management servicescompany focusing on the commercialisation of technology and the development oftechnology-based industry. ANGLE creates, develops and advises technologybusinesses on its own behalf and for its clients. ANGLE is listed on AIM (AGL.L)and operates from offices in the UK, the US and the Middle East. Furtherinformation can be found on www.ANGLEplc.com Geomerics Ltd Geomerics Ltd was founded in 2005 by ANGLE and developed under ANGLE's Progeny(R) programme. It is one of eight such companies in the ANGLE portfolio atpresent. Geomerics is an innovation-led company specialising in graphicssoftware for the games industry and beyond. It is built on a combination ofadvanced in-house IP, a remarkable research team, and strong managementexperience. The company's first product is Enlighten. Enlighten radicallytransforms the way that lighting is handled in computer games. Instead ofpre-baking the effects of global illumination into the scene they can now becomputed at run time, allowing for fully dynamic lighting. This dramaticallyenhances realism as well as opening up a new world of creative possibilities fordesigners and artists. Further information can be found on www.geomerics.com Trinity Hall, Cambridge Trinity Hall is one of Cambridge University's oldest colleges. Private Equity/Venture Capital constitute 'alternative' asset classes in which selectiveinvestments are made. They form a small, but significant, part of the College'soverall endowment portfolio. Further information can be found on www.trinhall.cam.ac.uk This information is provided by RNS The company news service from the London Stock Exchange