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13 Oct 2009 07:00
FOR IMMEDIATE RELEASE 13 October 2009
RAM INVESTMENT GROUP PLC
("RAM" or the "Company")
RAM INVESTMENT GROUP PLC COMPLETES SHARE SWAP TRANSACTION WITH ALPHA PROSPECTS PLC
The Board of RAM Investment Group Plc ("RAM") announces that it has today completed the purchase of an investment holding in Alpha Prospects Plc ("Alpha").
The Company has purchased of 12,000,000 ordinary shares in Alpha at a price of 2.5p per share in consideration for the issue of 3,157,895 new Ordinary Shares in RAM at a price of 9.5p. On completion of this transaction, RAM's percentage holding in Alpha will be 11.27%.
Alpha invests in niche companies operating in the independent travel sector. Alpha's latest annual report and accounts for the year ended 31 May 2009 showed a loss of £(378,632) and Net Assets of £365,339. Post the last financial year Alpha has sold its 10% stake in Active Energy to Cinpart, a fast growing green technology business for cash and shares.
This will have the effect of increasing the Current Asset investments held by RAM by £300,000.
Application has been made for the 3,157,895 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 16 October 2009.
For further information please call:
Tim Baldwin RAM Investment Group Plc 0207 518 4303
Sandy Jamieson Libertas Capital Corporate Finance Limited 0207 569 9650
Monisha Varadan Rivington Street Corporate Finance Limited 0207 562 3389
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