Crawshaw Group Regulatory News (CRAW)

12 Jun 2007 07:01

Felix Group PLC12 June 2007 Felix Group plc ("Felix or "the Group")12 June 2007 Proposed Placing to raise GBP 4.2 million Felix announces that it is intending to raise approximately £4.2 million beforeexpenses through a placing of 56,000,000 new ordinary shares (the "PlacingShares") at 7.5p per share (the "Placing") by Teather & Greenwood Limited. Thenet proceeds of the Placing receivable by Felix will be approximately £4.0million. Teather & Greenwood has agreed to subscribe £126,000 of the commissionsreceivable by it pursuant to the Placing for 1,680,000 new ordinary shares (the"T&G Shares"). The Group intends to use the net proceeds of the Placing to implement itsevolving strategy as both a kiosk deployer and as an aggregator and licensor ofdigital based content for other kiosk estate manufacturers, owners and operatorsboth in the UK and overseas. The Placing is conditional upon, among other things, the approval ofshareholders of resolutions to be put to an Extraordinary General Meeting ("EGM"), which will be held at the Felix offices at Cherry Tree House, CherryTree Lane, Rostherne, Cheshire WA14 3RZ on 9 July 2007 at 11.00 a.m. and uponthe admission to trading on AIM of the Placing Shares and the T&G Shares("Admission "). The Group expects that subject to the resolutions at the EGMbeing passed, Admission will occur on 12 July 2007. A circular, notice of the EGM and a form of proxy for use at the EGM will beposted to shareholders of Felix on 14th June 2007 in connection with thePlacing. Copies of these documents will be available to the public, free ofcharge, from 14th June 2007 for a period of one month at the offices of theGroup's solicitors: Pannone LLP, 123 Deansgate, Manchester M3 2BU. The Placing will offer the Group the opportunity over the next 12 months toimplement its plans to continue to selectively deploy quantities of its MAX BOXkiosk proposition in the UK, whilst at the same time, aggregating selecteddigital content in return for license fees, for other kiosk estate owners. Andy Egan, Chief Executive of Felix comments, "Our strategy has evolved over thecourse of the last 12 months. We continue to deploy the MAX BOX in the UK but ithas become clear that the software we have developed to support a range ofdigital content applications has wider appeal amongst other kiosk owners andmanufacturers. Furthermore, we can package these software services in return forlicense fees and recurring revenue streams. This broader distribution channelshould enable us to generate incremental revenue beyond that of being a kioskestate owner and deployer." Ends Contacts For Felix Group plc: Andy Egan; Chief Executive or Mike Wallwork; Company Secretary - 01565 831100 NOMAD and Broker to Felix Group plc: Mark Dickenson or Simon Brown - 020 7426 9000 This information is provided by RNS The company news service from the London Stock Exchange