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20 Apr 2009 12:39
FOR IMMEDIATE RELEASE 20 April 2009
RAM INVESTMENT GROUP PLC
("RAM" or the "Company")
RAM INVESTMENT GROUP PLC COMPLETES SHARE SWAP TRANSACTION WITH CECUNET PLC
The board of RAM Investment Group Plc ("RAM") announces that, today, it has completed the purchase of an investment holding in CECEUNET Plc ("CECEUNET").
The Company has purchased of 1,000,000 ordinary shares in CECEUNET at a price of 3p per share in consideration for the issue of 428,571 new Ordinary Shares in RAM at a price of 7p. CECEUNET is provider of "top-up" mobile-based payment services to consumers in the Henan/Guangdong Provinces and Beijing City in China. CECEUNET's latest annual report and accounts for the year ended 30 June 2008 showed a loss of €(63,611) and Net Assets of €19,772,000.
This will have the effect of increasing the Current Asset investments held by RAM by £30,000.
Application has been made for the 428,571 new Ordinary Shares, which will rank pari passu with the existing Ordinary Shares, to be admitted to AIM and trading is expected to commence on 24 April 2009.
For further information please call:
Tim Baldwin RAM investment Group plc 020 7518 4337
Roland Cornish Beaumont Cornish Limited 0207 628 3396
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