MIRA.L Regulatory News (MIRA)

29 Jun 2006 07:01

Yoomedia PLC29 June 2006 YooMedia plc / Ticker: YOO / Index: AIM / Sector: Media 29 June 2006 YooMedia plc ("YooMedia" or the "Group") New Contract with Catalyst Media Group plc And Convertible Loan Agreement Revision YooMedia plc, the AIM-traded interactive media and games group, has signed anagreement with Catalyst Media Group plc ('Catalyst') to provide them with aninteractive digital head to head gaming platform and various games licences fora consideration of up to £2 million, to be satisfied by the issue of up to44,444,445 new Catalyst ordinary shares ("New Catalyst Shares"). YooMedia willalso receive royalties between 20 per cent. and 30 per cent. of net revenuesarising from Tringo and the fixed odds games. Under the agreement, YooMedia will provide an online gaming system and rights toa range of online games to Catalyst, an AIM-traded media company that managesand distributes high quality audio-visual content using interactive digitaltechnology. The rights package includes exclusive rights to YooMedia's newTringo game for head to head gaming, where players play against each otheronline. The gaming system will support further head to head games as well asfixed odds games, which will be provided by YooMedia, including roulette, keno,slots and dice games. YooMedia's Group Managing Director Neil MacDonald said: "This agreementreiterates our ongoing message: that we have great technology, which leadingcompanies in the market recognise, resulting in YooMedia establishing a growingnumber of profitable commercial relationships." The terms of the agreement with Catalyst Up to 44,444,445 New Catalyst Shares will be issued to YooMedia. Of these,32,777,778 shares will be issued immediately with the balance of 11,666,667shares to be issued on 29 July 2006 on the satisfaction of certain performancecriteria. 29,629,630 New Catalyst Shares will be subject to orderly marketarrangements for a period between three and six months. Convertible Loan Arrangement Revision The Company is pleased to announce that the convertible loan arrangement withPlatinum Partners LLP and Highbridge International LLC, completed on 11 May2006, has been amended to reflect the following terms: • The conversion ceiling price has been restored to 12p • The conversion price is set at 90 per cent. of the average of five volume-weighted average prices chosen by the holder in the preceding 20 consecutive trading day period. * * ENDS * * Contacts: Neil MacDonald YooMedia plc Tel: 020 7462 0870Isabel Crossley St Brides Media & Finance Ltd Tel: 020 7242 4477 Notes on YooMedia plc: YooMedia is one of the fastest growing interactive entertainment companies inthe UK. Essentially, it develops and delivers premium interactive content andservices to households and individuals via TV, the web, telephony and mobilephones. It has four main divisions: • YooMedia Dating - manages dating brands including Dateline and Avenues from over 20 locations throughout the UK. Operates across traditional media, digital TV, internet and mobile phones. • YooMedia Gambling & Games - interactive fixed odds, play for fun casino and poker related games services for digital TV, the web and mobile phones. Brands include Channel 425, while it also manages YooPlay, the only interactive games channel found on all four Digital TV platforms in the UK and Avago, which was established by YooMedia and is now managed on behalf of Gala Group. • YooMedia Enhanced Solutions (YES) - delivers interactive content that enhances consumer and audience experiences. Customers include the BBC, Nestle, Celador, William Hill, Channel 4, The Cartoon Network and HR Owen. • YooMedia Public Sector - provides digital solutions/media services to leading public sector organisations including the NHS Direct Interactive TV service for the Department of Health, the Learning and Skills Council TV Kickstart service and a range of local authority TV services. The Group's experienced management team includes: Chairman, Dr. MichaelSinclair, who holds a number of directorships in both the UK and the USA havingpreviously founded Lifetime Corporation; and Managing Director, Neil MacDonald,whose career spans 11 years in multimedia and interactive sectors plus a further19 years in the retail industry. This information is provided by RNS The company news service from the London Stock Exchange