Mediazest Regulatory News (MDZ)

MEDIAZEST PLC - Issue of Equity

PR Newswire

London, December 18

MediaZest Plc ("MediaZest" or "the Company" or "the Group"; AIM: MDZ), thecreative digital out-of-home advertising company and audio-visual integrator,is pleased to announce a placing of 149,166,900 new ordinary shares of 0.1pence each in the capital of the Company ("New Ordinary Shares") at a price of0.12 pence per share (the "Placing").

The gross proceeds of the Placing are £179,000 which will be used by theCompany to provide additional working capital and fund the continued growth ofthe Company's operations.

16,666,700 of the New Ordinary Shares were taken up by the Directors of theCompany or its subsidiary as follows:

* includes 5 million shares subscribed by Hilary O'Neill, the wife of LanceO'Neill

**includes the interest of Hilary O'Neill

City & Claremont Capital Assets Ltd ("CCCA") has subscribed for 41,666,700 NewOrdinary Shares and now holds 112,616,700 ordinary shares in the Companyequating to 23.62 per cent. of the issued share capital.

The New Ordinary Shares will represent approximately 31.28 per cent. of theCompany's enlarged issued share capital immediately following the Placing.

Application has been made for the New Ordinary Shares to be admitted to tradingon AIM. It is expected that Admission will be effective and that dealings inthe shares will commence on 24 December 2012. The New Ordinary Shares will rankpari passu with the existing Ordinary Shares.

The Company's enlarged share capital immediately following the issue of the NewOrdinary Shares will be 476,792,227 Ordinary Shares. There are no shares heldin Treasury. The figure of 476,792,227 may be used by shareholders as thedenominator for the calculations by which they will determine if they arerequired to notify their interest in, or a change to their interest in, theshare capital of the Company under the Disclosure and Transparency Rules.

The participation in the Placing by James Abdool, Lance O'Neill, Jim Ofield andCCCA is deemed to be a related party transaction under the AIM Rules forCompanies. Geoff Robertson, the independent director of the Company for thepurposes of the transaction, having consulted with the Company's NominatedAdviser, Northland Capital Partners Limited, considers that the terms of therelated party transaction are fair and reasonable so far as the shareholders ofthe Company are concerned.