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16 Jul 2009 14:37
For immediate release 16 July 2009
RAM INVESTMENT GROUP PLC
("RAM" or the "Company")
Update on Investment and Director Details
RAM has noted the announcement made on 10 July 2009 by Vision Media Group (International) plc ("VMG") in relation to its suspension from trading on AIM and the further announcement made yesterday afternoon concerning the appointment of administrators to VMG.
RAM is considering its position and a further announcement will be made in due course.
Further to the announcement of 10 July 2009, the Company is clarifying that whilst the notice of Administrator's appointment to Equity for Growth (Securities) Limited was dated 27 May 2009 the administration order was granted on 19 May 2009 and further was back dated by the Court to 24 March 2009.
ENDS
Contact:
Edward Adams, RAM Investment Group plc on 07967 008448
Tim Baldwin, RAM Investment Group plc on 0207 518 4303
Roland Cornish, Beaumont Cornish Limited on 020 7628 3396
Background Note:
On 7 May 2009, RAM announced that it had agreed to invest £920,000 in Train FX (then owned 100% by VMG) for a 49.9% interest, together with an option to acquire the remaining 50.1% for an additional aggregate amount of £1,270,000. In addition, on 8 June 2009, RAM announced a commercial loan facility of up to £200,000 to VMG, of which £100,000 has been advanced.
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