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27 Jul 2009 18:26
FOR IMMEDIATE RELEASE 27 July 2009
RAM INVESTMENT GROUP PLC
("RAM" or the "Company")
RESULTS OF ANNUAL GENERAL MEETING ("AGM")
The Board of RAM Investment Group Plc ("RAM") is pleased to announce that at the Company's AGM held today, all resolutions were passed.
CHAIRMAN'S STATEMENT
At the AGM , Executive Chairman Tim Baldwin spoke of the progress that had been achieved by the Company in acquiring 49.9% of Train FX from its parent company with a binding call option to buy the remaining equity. As previously announced, we are currently in negotiation with administrators of VMG on a revision of this option agreement.
"I am pleased to report that RAM's investment in Train FX is looking even more exciting than the board had originally anticipated as Train FX is now tendering on a number of substantial contracts.".
"Train FX is also hopeful of drawing on a mezzanine debt facility soon to roll out the digital display screens it is contracted to provide on London commuter trains. These screens will enhance passenger journeys by delivering upgraded passenger information, a TV broadcast platform and a prospective CCTV solution for increased passenger security."
Tim Baldwin also reported on two other positive developments.
"Following the successful conclusion of the litigation with the Greek Government concerning a subsidiary, RAM expects the administrators to adjudicate on the discharge of these monies before the end of the year.
"The other development is that our holding of 1.17% in Gaming Technology Solutions Plc could soon be the subject of a cash offer. A development that will further strengthen our balance sheet."
For further information please call:
Tim Baldwin RAM investment Group Plc 0207 518 4337
Roland Cornish Beaumont Cornish Limited 0207 628 3396
Monisha Varadan Rivington Street Corporate Finance Limited 0207 562 3389
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