Mediazest Regulatory News (MDZ)

17 Aug 2009 10:15

MediaZest plc ( "Mediazest" or the "Company") Issue of Equity

The Board of Mediazest announces that, on 14 August 2009, it issued and allotted 80,000,000 new ordinary shares of 0.1p at a price of 0.25p per share raising 200,000 pursuant to a placing.

The new ordinary shares will represent approximately 77.8 per cent. of the enlarged issued share capital and will rank parri passu with the existing ordinary shares.

The placing proceeds will provide additional working capital for the Company.

Application has been made to AIM for the admission of the 80,000,000 new ordinary shares and dealings are expected to commence on 20 August 2009.

Directors' Dealings

Lance O'Neill, the Company's non-executive Chairman, has subscribed for 4,000,000 shares as part of the fundraising through EP&F Capital Plc, a company of which he is a director and shareholder. Following this subscription, Mr O'Neill's beneficial interest in the ordinary shares of the Company will be 3.1 per cent of the enlarged share capital and his shareholding through EP&F Capital Plc will be 3.9 per cent of the enlarged share capital.

Geoffrey Robertson, the Company's Chief Executive Officer and Finance Director, has subscribed for 2,000,000 shares as part of the fundraising. Following this subscription, Mr Robertson's beneficial interest in the ordinary shares of the Company will be 2.1 per cent of the enlarged share capital.

Related Party Transaction

Mr O'Neill is a related party pursuant to AIM Rule 13 and as such the transaction is a Related Party Transaction. In accordance with AIM Rule 13, the directors independent of the transaction have considered the terms of the transaction and, having consulted with Dowgate Capital Advisers Limited, being the Company's Nominated Adviser, are satisfied that those terms are fair and reasonable insofar as the Company's shareholders are concerned.

Total Voting Rights

Following the admission of the new ordinary shares to trading on AIM and in conformity with the Financial Services Authority's Disclosure and Transparency Rules, the Company gives notice that its voting capital will consist of:

Ordinary Shares Nominal Value Value Ordinary Shares held in Treasury 102,825,327 0.1p 102,825 Nil

As the Company does not hold any ordinary shares in Treasury its total number of voting rights equals its capital.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FSA's Disclosure and Transparency Rules.

Contact:

Geoff Robertson, Chief Executive Officer 020 7724 5680MediaZest plc Liam Murray / Avi Robinson 020 7492 4777

Dowgate Capital Advisers Limited