R4E.L Regulatory News (R4E)

20 Oct 2006 07:05

First Artist Corporation PLC20 October 2006 20 October 2006 FIRST ARTIST CORPORATION PLC Revision of earn-out consideration for The Finishing Touch First Artist Corporation PLC ("the Company") announces certain revisions to thefinancial details released on 7 August 2006 in respect of the first tranche ofearn-out consideration payable to the vendors of The Finishing Touch (CorporateEvents) Limited, as follows: 597,803 new ordinary shares of 0.25 pence each in the capital of the company ("New Ordinary Shares") on the basis of an average mid-market price of 6.88 penceper share have been issued to the vendors, rather than 528,089 New OrdinaryShares as originally stated; The total value of interest bearing unsecured loan notes, redeemable six monthsfrom issue, that have been issued is £578,803 rather than £509,089 as previouslystated. Application has therefore been made for the admission of 69,714 additional NewOrdinary Shares to trading on the AIM market of the London Stock Exchange. Uponissue, the additional New Ordinary Shares will rank pari passu with theCompany's existing Ordinary Shares. It is expected that such admission willbecome effective and that dealings in the additional New Ordinary Shares willcommence on 25 October 2006 ("Admission"). Following Admission, the Company willhave in issue an aggregate of 113,258,762 Ordinary Shares. -ENDS- Enquiries: Michael Sandler / Nick Lyon / Jon Smith, Chief Executive James White Richard Hughes, Finance Director Hudson Sandler First Artist Corporation plcTelephone 020 7796 4133 020 8900 1818 This information is provided by RNS The company news service from the London Stock Exchange