Parkmead Regulatory News (PMG)

3 Jun 2005 07:00

Interregnum PLC03 June 2005 3 June 2005 INTERREGNUM PLC Portfolio Company Announces Postponement of AIM Flotation Interregnum plc ("Interregnum"), the technology merchant bank, announces todaythat following a significant deterioration in the market conditions for newissues on the Alternative Investment Market (AIM) during recent weeks, itsportfolio company Red-M Group ("Red-M") has been advised to postpone its plannedadmission to AIM by Bridgewell, Red-M's financial adviser. The admission hadbeen planned to take place during the first half of 2005. Interregnum believes that Red-M remains very well placed to succeed in thegrowing market for wireless security and management products and services. TheRed-M business proposition has been positively received by prospective investorsand the company had raised £1.6m of new debt and equity funding as part of thepreparation for its IPO. Red-M therefore intends now to seek a private equityround of funding as the best way of addressing this market opportunity. Interregnum owns approximately 45% of the issued share capital of Red-M prior tofurther fund raising, with the other principal shareholders being funds managedby Apax Partners, Amadeus Capital Partners and Red-M's management. - Ends - Further enquiries: Interregnum 020 7494 3080Roger Jeynes 07971 545417 Merlin (PR advisers to Interregnum) 020 7653 6620Vanessa Maydon 07802 961 902Rebecca Penney 07795 108178 Red-MKarl Feilder, CEO 07770 301 490Shirley Fairall 07979 954 807 Corfin Communications (PR Advisers to Red-M) 020 7929 8989Harry Chathli 07843 660 220Neil Thapar 07876 455 323 Notes to Editor • Interregnum plc (www.interregnum.com) is a technology merchant bank listed on London's Alternative Investment Market (symbol: ITR). Established in 1992, Interregnum buys, sells, advises, invests in and operates technology companies. Its advisory services include corporate finance, IP exploitation and commercial due diligence. The company's clients are principally corporates, government, technology entrepreneurs, advisors and investors. • Red-M Group Limited was formed by the merger of Interregnum Wireless Holdings Limited, Cellular Design Services Limited and Red-M Communications Limited. Red-M develops a suite of hardware and software security products which continuously monitor and pro-actively protect networks against rogue wireless activity in their airspace. Red-M also provides wireless consultancy, design and implementation services which enable organizations to achieve greater productivity and create business value. Red-M was appointed a technology pioneer by the World Economic Forum for the third consecutive year in 2004. This information is provided by RNS The company news service from the London Stock Exchange