MAIS.L Regulatory News (MAIS)

17 June 2013

blur (Group) Plc

("blur Group" or the "Company")

Result of General Meeting & Issue of Equity

blur Group, the company that's reinventing commerce at blurgroup.com is pleased to announce that all of the resolutions set out in the Notice of General Meeting dated 31 May 2013 were passed at a meeting held today at 12pm.

blur has enjoyed a strong start to the current financial year, seeing acceleration in the number of businesses adopting s-commerce. Nearly 1,000 new businesses a month are now using blur's Global Services Exchange and earlier this month saw the passing of another major landmark - the receipt of the 2,000th project submitted on the Exchange. This came just 9 months after the 1,000th project, a significant decrease on the four years it took to reach that initial 1,000 landmark.

5,077,263 new ordinary shares at 150 pence per share raising $11.5 million (£7.6 million) (before expenses) will be issued, for the purpose of the Placing with new and existing institutional investors. Application has been made to the London Stock Exchange for the new ordinary shares, which will rank pari passu with the existing shares in issue, to be admitted to trading on LSE AIM, and admission is expected to become effective on 18 June 2013.

blur Group's total issued share capital after the admission of the new ordinary shares will be 29,632,522 ordinary shares. blur Group does not currently hold any shares in treasury. This figure of 29,632,522 ordinary shares may be used by shareholders in blur Group as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules. 

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About blur (Group) plc

blur Group is a technology company reinventing how businesses do commerce at blurgroup.com. Its Global Services Exchange delivers services differently: a new way to buy, manage and pay for core services. Nearly 30,000 businesses in 141 countries have adopted this s-commerce platform and changed the way they work.

blur Group (BLUR) is a public company headquartered in the UK with offices in the US and Europe. It is listed on the London Stock Exchange's AIM market. blur was founded in January 2006 and launched in alpha in 2007 with the full, formal launch of the Global Services Exchange in January 2010. At that time, just over three project briefs per month were submitted. Now 100 projects per month from companies like Broadridge, Coral, Exceed, HCA, Momentive, Red Commerce, the Financial Times, Berlitz, Butlins, GE Healthcare and Tyco are received. Over the same time, average brief value has grown from approximately $1,500 in 2010 to $10,800 in Q1 2013.

Today, more than 2,000 projects have been submitted with a combined brief value of over $26 million. These have come from the US, UK, Europe, Africa and Asia with over 27,000 expert service providers on eight exchanges responding to them.