Cadence Mineral Regulatory News (KDNC)

24 Mar 2005 08:00

Zest Group PLC24 March 2005 Zest Group plc 24 March 2005 Zest Group plc First Day Dealings on AIM Zest Group plc ("the Company") announces the admission of its Ordinary Shares totrading on AIM. Key Points • The Company's shares begin trading on AIM today. • A total of 73,666,668 Ordinary Shares are being admitted to trading, giving a market capitalisation of £2.21 million at the placing price of 3p per share. • Placees are committed to subscribe for a further 8,285,714 new Ordinary Shares at a price of 7p per share in a second fundraising following notification from the Company, but before 28 February 2006. • The Company believes recent changes in the music industry have increased the opportunities for the acquisition of music publishing catalogues, production companies and independent record labels and for the signing of existing mid-level artists and procurement of new talented artists. • The Company has acquired certain recording and publishing rights and is in the course of recording an album for a new female artist which is expected to be launched later this year. In addition the Company has agreed to acquire copyrights and master recordings in respect of an established reggae artist, together with options for his next four albums. • The Company's Nominated Adviser and Broker is W.H. Ireland Limited. Steve Weltman, the Company's Chief Executive, commented: "As corporate record labels and their music publishing divisions continue toundergo consolidation, we believe we have a significant opportunity to acquirepublishing catalogues, production companies and independent record labels and toprocure both mid-level artists who are struggling to retain their positions withlarger companies and new talented artists who are being ignored by the largecorporates. Admission of the Company's shares to AIM will now afford us theopportunity to develop the business and to begin to realise its potential." Enquiries: Zest Group plc: Steve Weltman: telephone 020 8398 4144 W.H. Ireland Limited: Ruth Gifford/Tim Cofman: telephone 0121 616 2101 The information contained herein is restricted and is not for release ordistribution in or into the United States of America, Canada, Australia, theRepublic of South Africa, the Republic of Ireland or Japan. This press release has been issued by Zest Group plc and is the soleresponsibility of Zest Group plc and has been approved for the purposes ofSection 21 of the Financial Services and Markets Act 2000 by W.H. IrelandLimited ('W.H. Ireland') of 11 St James's Square, Manchester, M2 6WH. W.H.Ireland, which is regulated by the Financial Services Authority, is acting asthe nominated adviser for Zest Group plc and will not be responsible to anyother person for providing the protections afforded to clients by W.H. Irelandor for providing advice regarding the Placing. This information is provided by RNS The company news service from the London Stock Exchange