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2 Sep 2010 12:21
2 September 2010 Parallel Media Group Plc ("PMG" or the "Group") Issue of Shares Holding in Company
Following the passing of the resolutions by the Group's shareholders at thegeneral meeting held on 31 August 2010, PMG has exercised its discretion tosettle the outstanding extension payment due on certain convertible loanagreements, amounting to £0.63m in aggregate, through the issue of 1,151,238ordinary shares of 2.2p. The Group is also issuing 176,665 ordinary shares of2.2p in settlement of certain debts. A further 436,361 shares remain to beissued to certain directors, following the announcement of the interim resultswhich will occur before the end of September 2010. The details of these shareissues are set out in the circular posted to PMG's shareholders dated 9 August2010.
The 1,327,903 shares, have been admitted to trading on AIM and dealings have commenced.
Following the issue of these 1,327,903 shares, the total issued share capitalof the Group will be 6,173,466 ordinary shares of 2.2p each. As the Group doesnot hold any ordinary shares in Treasury its total number of voting rightsequals its capital. This figure may be used by shareholders as the denominatorfor the calculations by which they will determine if they are required tonotify their interest in, or a change to their interest in the Company underthe FSA's Disclosure and Transparency Rules.
Following the issue of the 1,327,903 shares, the holdings of Ciclitira Concert Party are as follows:
Name Shares being Total Holding Percentage of Outstanding issued issued share rights to capital ordinary shares David Ciclitira - 177,672 2.9% 199,478(Director) Serena - - 0% -Ciclitira (Director) Barclays Wealth 666,781 2,019,734 32.7% 2,136,039Trustees Luna Trading 190,699 602,244 9.8% 610,909Limited Total 857,480 2,799,650 45.4% 2,946,426
For further information, please contact:
Stewart Mison, Martin Doherty Parallel Media Group Plc
020 7225 2000 Stuart Lane, Toby Gibbs Astaire Securities Plc (Nomad/Broker) 020 7492 4750
Alex Giacchetti, Laura Stevens Bishopsgate Communications
020 7562 3355
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