Last checked at 24 Jun 2009 11:59
24 June 2009
TMN Group plc
Announcement of results of Extraordinary General Meeting ("EGM")
TMN Group plc ("TMN Group" or "the Company"), one of the UK's leading online digital marketing organisations, is pleased to announce that the resolutions relating to the proposed acquisition of the entire issued share capital of Progressive Digital Media Group Limited ("Progressive") (the "Acquisition") through the issue of 291,942,672 new Ordinary Shares to Michael Danson, Progressive's sole shareholder and a non-executive director of TMN Group, were approved by the Company's shareholders at the EGM held earlier today.
The Acquisition is expected to complete tomorrow, 25 June 2009, when the new Ordinary Shares are expected to be admitted to trading on AIM. It is intended that the Company's name will be changed to Progressive Digital Media Group plc before admission to trading on AIM.
Unless, otherwise defined, all capitalised terms used have the same meaning given to them as defined in the Re-Admission Document sent to the Company's shareholders on 5 June 2009. Details of the resolutions are set out in the Notice of EGM included within the Re-Admission Document.
The following is a summary of the resolutions which were duly passed:
It is expected that the Enlarged Share Capital will be admitted to trading and dealings commence on 25 June 2009. The new ordinary shares will rank pari passu with TMN Group's existing ordinary shares in issue. Following admission of these shares to trading, TMN Group will have 369,547,686 ordinary shares in issue and admitted to trading.
Enquiries:
TMN Group plc +44 (0) 16 8989 9210
Peter Harkness
Investec Investment Banking +44 (0) 20 7597 5970
Erik Anderson / David Flin / Avital Lobel
Hudson Sandler +44 (0) 207 796 4133
Nick Lyon / James White