16 Jul 2007 09:46
YooMedia PLC ("YooMedia" or "the Company") Share Placing
YooMedia, the AIM-traded interactive media and games group, announces a share placing of 37,500,000 shares at a price of 1p to raise ‚£375,000 (before expenses). The private placing is being made today with YooMedia's joint broker Hoodless Brennan and the net proceeds are being used to complete development of new products for YooMedia's Interactive Services division, in the area of interactive kiosks and remote payment services.
Application has been made for the admission of the 37,500,000 ordinary shares of 1p each to trading on AIM and admission is expected to be effective on 26 July 2007.
Michael Sinclair, Executive Chairman, YooMedia PLC, commented:
"We are delighted at the continued investor support towards our commercialisation plans and their belief in our strong position in the marketplace.
"In receiving these additional funds, our principle focus is to drive forward YooMedia's innovative interactive kiosk proposition for brands, retailers and service businesses. Whilst still at a relatively early stage of development, the Directors believe that investors will be rewarded longer term, through the Company's enhanced competitive position in these high value markets."
16 July 2007Enquiries:YooMedia PLC +44 (0) 207 462 0870 Neil MacDonald, Managing Director Nexus Financial Ltd 020 7451 7068 Nicholas Nelson/Kathy Boate Nicholas.nelson@nexusgroup.co.uk Seymour Pierce Limited +44 (0) 207 107 8000 Mark Percy Parimal Kumar Hoodless Brennan +44 (0) 207 538 1166 John Levinson
YOOMEDIA PLC