23 Oct 2009 15:27
23 October 2009 iPoint-media plc ("iPoint" or the "Company") Further re: Open Offer and Subscription Offer
Application for admission to trading on AIM and extension of final closing date of Subscription Offer
On 7 October 2009 iPoint announced that at the closing date of the Open Offer at 3 p.m. on 2 October 2009 the Company had received valid applications from existing Shareholders for an aggregate of 258,312.20. Defined terms used in the announcement on 26 August 2009 shall have the same meanings in this announcement.
The valid applications under the Open Offer comprised 18,191 Offer Units, comprising 210,469.87 of Loan Notes, 1,055,078 Offer Shares and 2,255,684 Bonus Shares. It is a term of the Open Offer that the Bonus Shares will not be capable of being sold, transferred or pledged to any third party for a period of one year from issue in respect of all the Bonus Shares subscribed under the Open Offer and for a period of a further year in respect of 50 per cent. of the Bonus Shares subscribed under the Open Offer.
Furthermore, the Company announced that it had been informed by CSS Partners LLP ("CSS"), as Placing Agent to the Subscription Offer, that CSS had by close of business on 2 October 2009 received commitments under the Subscription Offer of in excess of 750,000.
The Open Offer and the Subscription Offer are conditional upon, inter alia, the aggregate subscription being in excess of 1 million.
iPoint is now pleased to announce that as at 12 noon on 23 October 2009, it had received valid applications in respect of 129.25 Units under the Subscription Offer, amounting to 811,690 in total, comprising 661,760 of Loan Notes, 3,308,800 Placing Shares and 7,031,200 Bonus Shares. It is a term of the Subscription Offer that the Bonus Shares will not be capable of being sold, transferred or pledged to any third party for a period of one year from issue in respect of all the Bonus Shares subscribed under the Subscription Offer and for a period of a further year in respect of 50 per cent. of the Bonus Shares subscribed under the Subscription Offer.
Accordingly, the aggregate subscription under the Open Offer and the Subscription Offer is 1,070,002.20 and the Open Offer and the Subscription Offer are solely conditional upon admission of the Ordinary Shares comprised in the Units applied for under the Open Offer and the Subscription Offer being admitted to trading on AIM.
iPoint also announces that the final closing date for the Subscription Offer will be extended to remain open until it is subscribed in full or 15 November 2009, whichever occurs earlier. A further announcement in respect of any further valid applications under the Subscription Offer will be made in due course.
In addition, pursuant to the engagement letter with Charles Street Securities Europe LLP dated 11 June 2009, the Company has allotted 2,348,819 Bonus Shares to CSS Capital Managers LLP. These Bonus Shares will not be capable of being sold, transferred or pledged to any third party for a period of one year from issue and for a period of a further year in respect of 50 per cent. of these Bonus Shares.
Application has been made for 15,999,581 Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 26 October 2009.
Further enquiries:iPoint-media plc Muki Geller +972 (0) 544 450 667
Merchant John East Securities Limited David Worlidge +44 (0) 207 628 2200
Bidhi Bhoma
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