Last checked at 21 May 2007 11:32
TMN Group PLC ("TMN" or "the Company")
Additional Listing
TMN announces that application has been made to the London Stock Exchange for 150,000 ordinary shares of 0.01p each in the Company ("Ordinary Shares"), to be admitted to trading on AIM ("Admission").
It is expected that Admission of the new Ordinary Shares, which will rank pari passu in all respects with the existing issued share capital of the Company, will commence on 24 May 2007.
The new Ordinary Shares are being issued as part of the deferred consideration for iD Factor Limited ("IDF") in accordance with the announcement on 8 September 2006. Following the resignation of Jonathan Gumbrell from the Company effective 11 May 2007 this will now be the final payment relating to the acquisition of IDF, the two tranches of 150,000 Ordinary Shares to be issued after 30 April 2008 and 2009 are no longer due.
Following the listing of these Ordinary Shares the Company will have 49,882,694 Ordinary Shares in issue.
Mark Smith, CEO said "We are pleased to have made the final payment for IDF and with the restructuring and new management in place together with strong trading in the last three months we look forward to the success of this division".
Enquiries:
Mark Smith, CEO
Peter Coveney, Finance Director 020 7440 9310
TMN GROUP PLC