2 Jun 2008 14:49
Date: 02 June 2008
On behalf of: NetPlay TV plc ("the Company" or "Netplay")
For immediate release
NetPlay TV plc
Issue of Equity
NetPlay TV plc (AIM: NPT), announces today that in connection with the Bingos acquisition on 17 March 2008, the Company has agreed to pay Story Holdings Inc, a company controlled by Dominic Mansour, CEO of Bingos.com, a finders fee of £250,000 as detailed in the circular. It is intended that Story Holdings Inc will use these funds to subscribe for ordinary shares in the Company at a pre-agreed price of 16.5p, which was the market value on exchange of contracts.
These shares have now been issued and are subject to a hard lock in period, until 16 April 2009, during which Story Holdings Inc will not be permitted to dispose of these shares. An application will be made for the shares to be admitted to trading on AIM. Admission is expected to be effective from 6 June 2008.
Enquiries:
NetPlay TV plc
Martin Higginson, Executive Chairman www.netplaytv.plc.uk
Via Redleaf
Redleaf Communications Tel: 020 7822 0200
Emma Kane/ Sanna Sumner / Mike Ward netplay@redleafpr.com
Landsbanki Securities (UK) Limited
Sindre Ottesen Tel: 020 7426 9000