CLP.L Regulatory News (CLP)

17 May 2006 13:54

Brainspark PLC17 May 2006 For immediate release 17 May 2006 Brainspark plc ("Brainspark" or the "Company") Update on Investments Brainspark announced today that it is investing in Mediapolis SpA.("Mediapolis") an Italian real estate development company which owns the landand the planning permission for a major development project in Piemonte, betweenTurin and Milan. The four main components of the development are: • A major theme park, comparable in size to some of Europe's largest theme parks • A specialized commercial centre of 14,825 acres (or 60,000 square meters) • Two hotels • One gas fired electricity generation plant Francesco Gardin, Brainspark chairman commented: "This is the second Brainsparkinvestment in recent months. It is a second stage round of funding in thelargest planned amusement park in Italy. Although it is substantially differentfrom the typical Brainspark technology investments it is part of a our strategyannounced at the time of the Polarizonics Technology investment, namely tocreate an international network of relationships with strategic partners. Thisinvestment is made in conjunction with a number of local investors and is aprecursor to a euro 196,000,000 (£135,640,000) fund raising for the developmentof the theme park, hotels and shopping mall. Funds may also be raised through alisting on a European stock exchange." Brainspark will invest $49,400 (£34,500) in ordinary Mediapolis Stockrepresenting a holding of 38,000 shares or approximately 0.47% of the enlargedissued share capital of the company. The price is based on a pre-investmentvaluation of euro 9,000,000 (£6,500,000) This investment is part of a fullysubscribed round of funding raising euro 1,500,000 (£1,050,000) for Mediapolisin total. Investors in this round include local entrepreneurs. Prior to the current investment round the company is owned by MediapolisInvestment Luxembourg (81%), Olivetti Multiservices S.p.a. (Telecom ItaliaGroup) (10%) and (9%) by the private Dutch holding company Breakline SV. Alfredo Villa, Director of Brainspark, is also a Director and shareholder ofMediapolis Investment Luxembourg. Contact: Francesco Gardin, Brainspark PLC on +44 (0) 20 7843 6600 or 00 39 335 296573 Roland Cornish, Beaumont Cornish Limited on +44 (0)20 7628 3396. Press contact Alla Lapidus, Moonlight Media Ltd +44 (0)20 7250 4770 This information is provided by RNS The company news service from the London Stock Exchange