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27 Nov 2008 11:30
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27Β November 2008
MILESTONE GROUP PLC
"Milestone" or the "Company"
SMALLΒ SUBSCRIPTION
APPOINTMENT OF STRATEGYΒ CONSULTANTS
The Company announces a small subscription to raiseΒ Β£132,870Β (before expenses)Β through the issue ofΒ 11,416,251Β new MilestoneΒ OrdinaryΒ SharesΒ of 0.1p each ("Ordinary Shares")Β (collectivelyΒ the "Subscription").
The Company additionallyΒ announces the appointment ofΒ Knowledge MGIΒ Limited ("KMGI")Β as its new strategy consultants.Β KMGI will initially be engaged to assist the Board with reviewing funding and development opportunities for the group. As part of this process, discussions relating to the planned partnership between NexstarΒ League Limited (a subsidiary of the Company)Β and Enrich Social Productions Limited, announcedΒ onΒ 29 September 2008, continue to progress.Β
Milestone Chief Executive, Deborah White, said:
"It has been a difficult period for the Company but we areΒ working withΒ a strong team of advisors helping us toΒ put in placeΒ ourΒ plans for future development. The BoardΒ aims over time to developΒ a portfolio of interestsΒ and isΒ pleased to beΒ workingΒ closelyΒ withΒ KMGIΒ toΒ assist in the process of reviewingΒ strategicΒ opportunities."
Under the terms of the Subscription, theΒ Company hasΒ agreed to issueΒ newΒ OrdinaryΒ Shares to the following parties:Β
|
Name of Subscriber |
Ordinary SharesΒ |
Subscription price |
|
Sara Kathryn Berry |
750,000Β |
1.2p |
|
Timothy Bottoms* |
566,667 |
1.2p |
|
KMGI Ltd* |
375,000 |
0.1p |
|
Eugenia Koroni* |
1,031,250Β |
1.2p |
|
Magdalene Manikam** |
4,166,667Β |
1.2p |
|
Andrew Martinez* |
360,000 |
1.2p |
|
Simon John Player*** |
1,666,667 |
1.2p |
|
Anish Sharma |
2,500,000Β |
1.2p |
*Β These parties are contractors of the CompanyΒ or its subsidiariesΒ and have agreed not to dispose of any of the subscription shares until 1 March 2009Β without the prior approval of the Company
**Β Held by Alliance Trust Pensions Ltd
*** Held by Brewin NomineesΒ Ltd
The CompanyΒ will be makingΒ application forΒ the newΒ OrdinaryΒ SharesΒ to be admitted toΒ trading onΒ AIM withΒ admission anticipatedΒ onΒ 3Β DecemberΒ 2008.Β TheΒ shares willΒ rank pari passu with all existingΒ Ordinary SharesΒ of the Company. Post-admission the total issued share capital of the Company will increase toΒ 69,306,569Β (excluding deferred shares which have no rights attached to them).
So far as the Company is awareΒ and subject to any newΒ notifications received,Β the following persons will have a notifiable interest in theΒ issued share capital of MilestoneΒ post-admission:
|
Pre-admission |
Post-admission |
|
|
TRMK Estate Income Ltd (& connected parties) |
12,690,155 (21.92%) |
12,690,155 (18.31%) |
|
Deborah Jane White |
7,606,698 (13.14%) |
7,606,698 (10.97%) |
|
Reginald John Brealey (& connected parties) |
7,325,000 (12.65%) |
7,325,000 (10.57%) |
|
Magdalene Manikam |
- |
5,666,667 (8.18%) |
|
CMH Management Ltd |
4,261,734 (7.36%) |
4,261,734 (6.15%) |
|
John Godfrey |
4,166,667 (7.20%)Β |
4,166,667 (6.01%) |
|
Susan Auden |
4,166,667 (7.20%) |
4,166,667Β (6.01%) |
|
Compass Securities Ltd |
4,166,667 (7.20%) |
4,166,667Β (6.01%) |
|
Andrew Timms Craig (& connected parties) |
2,621,838 (4.53%) |
2,621,838 (3.78%) |
|
Anish Sharma |
- |
2,500,000 (3.61%) |
For further information:
|
Milestone |
|
|
Deborah White, Chief Executive |
Tel: 020 7648 1043Β |
|
Arden Partners plc |
|
|
Richard Day / Adrian Trimmings |
Tel: 020 7398 1600 |
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