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24 Jun 2009 11:59
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24Β June 2009
TMN Group plc
Announcement of results of Extraordinary General Meeting ("EGM")
TMN Group plcΒ ("TMN Group"Β orΒ "the Company"),Β one of the UK's leading online digital marketing organisations,Β is pleased to announceΒ that the resolutionsΒ relating to the proposed acquisition ofΒ the entire issued share capitalΒ ofΒ Progressive Digital Media Group LimitedΒ ("Progressive")Β (the "Acquisition")Β 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,Β wereΒ approved by the Company's shareholders at the EGM held earlier today.Β
The Acquisition is expected to complete tomorrow, 25 June 2009, when the new Ordinary Shares are expected to be admitted to trading on AIM.Β It is intended that the Company's name will be changed to Progressive Digital Media Group plcΒ before admission to trading on AIM.
Unless, otherwise defined, all capitalised terms used have the same meaning given to them as defined in theΒ Re-Admission Document sentΒ to the Company's shareholders on 5 June 2009. Details of the resolutions are set out in the Notice of EGM included within theΒ Re-Admission Document.
The followingΒ is a summary of theΒ resolutionsΒ whichΒ were duly passed:
It is expected thatΒ the Enlarged Share Capital will be admitted to trading andΒ dealings commence onΒ 25 June 2009. The new ordinary shares will rank pari passu withΒ TMN Group's existing ordinary shares in issue. Following admission of these shares to trading,Β TMN GroupΒ will haveΒ 369,547,686Β ordinary shares in issue and admitted to trading.
Enquiries:Β
TMN Group plc +44 (0)Β 16 8989 9210
Peter Harkness Β
Investec Investment Banking +44 (0) 20 7597 5970
Erik Anderson / David Flin / Avital Lobel
HudsonΒ Sandler +44Β (0)Β 207 796 4133
Nick Lyon / James White
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