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14 Jul 2009 18:35
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14 July 2009
AvantiΒ ScreenmediaΒ GroupΒ plc
("Avanti"Β orΒ theΒ "Company")Β (AIM:Β ASG.L)
Issue of Equity - Replacement
The following announcement replaces RNS 6613V due to the omission of some text in the first paragraph which should readΒ as follows
"The Board is pleased to announce that Neo Media Group SA has today converted Β£300,000 of Loan Notes in Avanti into 30,000,000 ordinary shares.Β Following theΒ Neo Media Subscription,Β Neo Media will holdΒ 47,636,363Β ordinary shares,Β representingΒ 29.4Β per cent of the enlarged issued share capital,Β andΒ convertible loans which upon full conversion will require the issue of a furtherΒ 125,000,000Β newΒ ordinary shares. Upon full conversion of their convertible loan notes Neo Media will ownΒ up to a maximum ofΒ 60.2Β per cent of the Company'sΒ enlarged issued share
capital.".
The revised full text is as shown below:
The Board is pleased to announce that Neo Media Group SA has today converted Β£300,000 of Loan Notes in Avanti into 30,000,000 ordinary shares. Following the Neo Media Subscription, Neo Media will hold 47,636,363 ordinary shares, representing 29.4 per cent of the enlarged issued share capital, and convertible loans which upon full conversion will require the issue of a further 125,000,000 new ordinary shares. Upon full conversion of their convertible loan notes Neo Media will own up to a maximum of 60.2 per cent of the Company's enlarged issued share capital.
The Company has also today issued 6,750,000 ordinary shares to Gary Truman, CFO, in lieu of cash remuneration owed to him under the terms of his contract. Mr Truman now has a shareholding of 17,064,107 being 10.5% of the issued ordinary share capital of the Company.
Accordingly application has been made for the 36,750,000 new ordinary shares to be admitted to trading onΒ AIMΒ and it is expected that admission will take place onΒ 20Β July 2009. The new ordinary shares will rank pari passu with the existing shares of the Company. Following this issue the total issued share capital ofΒ the Company will increase toΒ 161,763,636Β ordinary sharesΒ of 1 pence each. A total of Β£ 1.8m Loan Notes remain in issue.
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AvantiΒ ScreenmediaΒ GroupΒ plc Jamie Ball,Β Managing Director GaryΒ Truman,Β CFO |
020Β 7902Β 2345 |
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CharlesΒ StanleyΒ SecuritiesΒ NominatedΒ Adviser RussellΒ Cook/FreddyΒ CrossleyΒ |
020Β 7149Β 6000 |
|
BishopsgateΒ CommunicationsΒ Limited RobynΒ Samuelson/SiobhraΒ Murphy |
020Β 7562Β 3355 |
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