MIRA.L Regulatory News (MIRA)

11 May 2006 07:01

Yoomedia PLC11 May 2006 YooMedia plc / Index: AIM / Epic: YOO / Sector: Media 11 May 2006 YooMedia plc ("YooMedia" or "the Company") Raises £1.3 million through a placing and concludes revised £7.5 million convertible loan arrangement YooMedia, the AIM-traded interactive media and games group, has raised£1,300,000 through a placing of 30,588,235 new ordinary shares of 1p each ("NewOrdinary Shares") at 4.25 pence. The financing is part of the Company'srefinancing strategy to continue the re-positioning of its product offering tocapitalise on growing opportunities within the interactive media market. Application has been made for the admission of the New Ordinary Shares totrading on the AIM market. The New Ordinary Shares will rank pari passu withthe existing ordinary shares of 1p each in the Company and dealings in the NewOrdinary Shares are expected to commence on 15 May 2006. In tandem with the placing, YooMedia has concluded the revised convertible loanarrangement announced on 29 March 2006. The loan note arrangement provides for£7,500,000 of funding (before expenses). The terms of the convertible loanstructure have altered in that Platinum Partners LLP and HighbridgeInternational LLC (who have replaced Cornell Partners as one of the two lenders)have the right to convert any of the principal and interest due under the termsof the Convertible Loan Agreements into new Ordinary Shares at a conversionceiling price per new Ordinary Share equivalent to 5.5 pence and not 12 pence aspreviously stated. The Directors believe that this change does not materiallyaffect the structure of the deal or the upside potential of the note to theCompany and its shareholders. YooMedia expects to announce its results for the year ended 31 December 2005 onFriday, 26 May 2006. * * ENDS * * Contacts Neil MacDonald YooMedia plc Tel:020 7462 0870Mark Percy Seymour Pierce Limited Tel:020 7107 8000Isabel Crossley St Brides Media & Finance Ltd Tel: 0207242 4477 This information is provided by RNS The company news service from the London Stock Exchange