Crawshaw Group Regulatory News (CRAW)

9 May 2006 17:05

Felix Group PLC09 May 2006 9 May 2006 Felix Group plc ("Felix" or "the Group") Proposed Placing to raise GBP 5.5 million to commence MAX BOX rollout Felix announces that it is intending to raise approximately £5.5 million beforeexpenses through a placing of 55 million new ordinary shares (the "PlacingShares") at 10p per share (the "Placing") by Teather & Greenwood Limited. Thenet proceeds of the Placing will be used to commence the rollout of the Group'sinnovative cash and digital services dispensing ATM and to provide additionalworking capital for the Group. As part of the Group's strategy, it is itsintention to become an independent ATM deployer ("IAD"). The Placing is conditional, inter alia, upon the approval of shareholders ofresolutions to be put to an extraordinary general meeting ("EGM"), which will beheld at the Felix offices at Cherry Tree House, Cherry Tree Lane, Rostherne,Cheshire WA14 3RZ on 2 June 2006 at 11.00 a.m. and upon the admission to tradingon AIM of the Placing Shares becoming effective. The Group expects thatadmission of the Placing Shares will occur on 5 June 2006. A circular, notice of the EGM and a form of proxy for use at the EGM will beposted to shareholders of Felix on 10 May 2006 in connection with the Placing.Copies of these documents will be available to the public, free of charge, from10 May 2006 for a period of one month at the offices of the Group's solicitors:Pannone LLP, 123 Deansgate, Manchester M3 2BU. The Group had cash at bank at 27 April 2006 of over £1 million, although theseresources will have been substantially depleted by the end of May 2006 followingthe funding of the initial manufacture and assembly of MAX BOX machines (asannounced on 20 April 2006) along with other running costs of the business. ThePlacing will offer the Group the opportunity to implement its plans to become anIAD and ensures the Group will be able to implement its strategy over the courseof the next 12 months. Andy Egan, Chief Executive of Felix comments, "We now have a developed productand working ATM which offers additional value to customers over and abovewithdrawing cash. The wide range of digital services offered under the MAX BOXproposition will, we believe, appeal to retailers and consumers alike whilstbringing to market a new retail distribution channel." - Ends - Enquiries: For Felix Group plcMike Wallwork m: 07795613844 O:01565831100 E-mail: mike@felixcorp.com PR for Felix Group plcHolborn PR, David Bick O: 02079295599: E-mail: david.bick@holbornpr.co.uk Note to EditorsFelix Group plc (Reuters FLX.L Bloomberg FLX LN)www.felixgroupplc.com Felix Group's ordinary shares were admitted to trading on AIM on 8 March 2004.Felix Group initially developed a new form of sales promotion through a directconsumer interactive medium called Everyone's A Winner. Felix has now combinedthis retail innovation with a traditional ATM machine and included a (growing)range of digital consumer services (photo processing, mobile top-up and contentand music downloads) to form MAX BOX, a kiosk designed to dispense cash, vendsales promotions and provide additional consumer services. By utilising retailers' advertising and sales promotion budgets, Everyone's AWinner enables participants to be allocated a non-cash prize guaranteed to havea retail value of at least twice the cost of participating. This information is provided by RNS The company news service from the London Stock Exchange