6 Dec 2006 12:21
6 December 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA 121Media, Inc ("121Media" or the "Company") Additional Listing
Placing of 136,400 new common shares of $0.001 (the "Placing Shares") at ‚£11.00
per share (the "Placing Price") to raise approximately ‚£1.5 million before
expenses (the "Placing")
AIM-listed 121Media, a technology firm specialising in contextual online advertising, announces that Canaccord Adams Limited, on behalf of the Company, has conditionally placed 136,400 new common shares of $0.001 ("Common Shares") at ‚£11.00 per share to raise approximately ‚£1.5 million before expenses. The Placing is conditional, inter alia, upon admission of the Placing Shares to trading on AIM.
Application will be made for the Placing Shares to be admitted to trading on AIM and trading is expected to commence on 12 December 2006. The Placing Shares will represent approximately 1.2 per cent. of the enlarged issued common share capital of the Company.
121Media intends to use the proceeds from the Placing to continue the implementation of its PageSense Javascript technology with Internet Service Providers (ISPs) and for general working capital. As previously announced, the Company's discussions with global ISPs continue to progress well and the Company expects significant progress in the near future.
121Media is also pleased to announce the appointment of Canaccord Adams Limited as its nominated adviser with immediate effect.
"We look forward to working with Canaccord Adams Limited and I would like to thank John East & Partners Limited for all the great work it has done for us over the past two years," said Kent Ertugrul, 121Media CEO.
-Ends- Enquiries:121Media Inc. 0870 405 7727 Kent Ertugrul, Chief Executive Officer Canaccord Adams Limited 0207 050 6500
Mark Williams/Andrew Chubb
121 MEDIA INC