5 Dec 2008 13:30
For immediate release
5 December 2008
Hecta Media Inc
("Hecta Media" or "the Company")
Directors' Dealings
The Company announces that it has been informed that Bellone Investment Services Inc ("Bellone"), which is owned by a trust in which Director David Weill's non-adult children are interested, has transferred, on 3 December 2008 at a price of 3.5p per ordinary share, 12,000,000 ordinary shares in the Company to Myriagon Special Situations Inc ("Myriagon"), a Cayman Island based investments fund, the consideration being shares in Myriagon. As a result, Myriagon now owns 22,000,000 ordinary shares representing 16.6 per cent. of the Company's issued share capital. The shares held by Myriagon are registered in the name of HSBC Global Custody Nominee (UK) Limited.
As a result, David Weill's interests remain in 500,000 ordinary shares held by Bellone representing 0.3%per cent. of the Company's issued share capital. Neither David nor his family have a disclosable interest in respect of the shares held by Myriagon.
ENDS
Further Information:
Hecta Media Inc
Clark Landry (CEO) Tel: + 1 310 570 3820
Beaumont Cornish Limited
Roland Cornish Tel +44 (0) 20 7628 3396
gth media relations
Toby Hall /Christian Pickel Tel: +44 (0) 20 7153 8039/8036
Or visit the group's website at www.hectamedia.com