NPT.L Regulatory News (NPT)

18 Jan 2007 14:42

Netplay TV PLC18 January 2007 Date: 18 January 2007 On behalf of: NetPlay TV plc ("NetPlay" or "the Company") For immediate release NetPlay TV Acquires Chariot's Trading Operations • Online charity lottery - 'monday' • Database of over 280,000 lottery players • Assets required to operate 'monday' The Board of NetPlay TV plc (AIM: NPT), the interactive TV gaming company,today announces that it has bought the know-how and intellectual property rightsattaching to Chariot (UK) plc's online charity lottery, 'monday', as well asChariot's entire database comprising over 280,000 lottery players. The aggregate consideration, which includes all intellectual property, thewebsite domain, the database and all operating 'know how' which are required tooperate 'monday', is £140,500 plus VAT in cash. The current revenues of thegame are running at approximately £50,000 of ticket sales per week. Chariot(UK) plc will continue to operate the game for the next four weeks in order toensure a smooth transition to NetPlay TV. The cost of this is included in thepurchase price. The acquisition of 'monday' is the Company's first move into offering additionalinteractive games. It is the intention of the Company to create an interactiveTV lottery game show based around the 'monday' brand. It is anticipated thiswill be on air by mid February 2007. Until this date the game will continue torun on the Internet at www.playmonday.com. NetPlay TV plc acquired the TV production company Vegas247 Limited in December2006. The company currently produces an interactive live roulette show on SkyChannel 847 called 'Live Roulette'. This interactive TV game operates under aUK gaming license. The Company believes merging the current player base of 'monday' with its TVproduction skills to produce a live, interactive TV lottery show will giveplayers an enhanced experience. Linking the flexibility of the Internet with atraditional TV broadcast adds further trust and credibility to this establishedgame. Commenting on the transaction, Martin Higginson, Chairman and CEO of NetPlay TV,said: "The acquisition of the 'monday' game is an exciting move for the Company.Chariot has spent a considerable amount of money building a comprehensivedatabase of over 280,000 lottery players. We believe we can use our provendirect marketing skills, together with our recently acquired TV productionskills to produce a fun, interactive TV lottery show. "Direct communication with the database combined with the TV show will webelieve build further credibility and trust with the 'monday' brand. To datethe game has generated substantial amounts of cash for the charities itsupports. This will continue and hopefully grow under our ownership. "This acquisition further enhances our position in the interactive TV gamingarena. Our mission over the coming year is to build a substantial interactiveTV gaming company - this is just the first step in what we believe is a veryexciting road ahead." In view of the nature of the Transaction, Chariot would ordinarily be required,under Rule 15 of the AIM Rules, to obtain prior shareholder approval for thesale of the company's assets to NetPlay. However, due to Chariot's financialposition and, on the basis that Chariot has received indications fromshareholders who hold over 50% of Chariot's issued shared capital (including themembers of the Board who own 18.40% of Chariot's issued share capital) that theysupport the Transaction, Chariot has received dispensation from the AIM Teamfrom the requirement under the AIM Rules to obtain prior shareholder approvalfor the Transaction. - ends - Enquiries NetPlay TV plcMartin Higginson Via Redleaf Redleaf Communications Tel: 020 7822 0200Emma Kane/Sanna Lehtinen/Susan Quigley This information is provided by RNS The company news service from the London Stock Exchange