React Group Regulatory News (REAT)

20 Dec 2006 13:04

X-Phonics plc20 December 2006 X-Phonics plc 20 December 2006 Issue of New Ordinary Shares X-Phonics plc ("X-Phonics" or "the Company"), the independent record label andmedia management company, today announces it has allotted and issued 479,920new Ordinary Shares of 1p each in the capital of X-Phonics ("Ordinary Shares")at 5p per share to certain Directors of X-Phonics, in lieu of unpaid Directorfees and also to Kerman & Co LLP, as an offset against part of their feesrelating to the provision of advice on the acquisition of White Noise. Robin Davies will receive 164,500 Ordinary Shares and Mike Hosie will receive215,420 Ordinary Shares of 1p each at 5p per share, in lieu of unpaid Directorsfees due to them of £8,225 and £10,771 respectively. In addition, Kerman & CoLLP has agreed that an amount, equal to £5,000, in relation to part of theirfees on the recent acquisition of White Noise, is to be satisfied by the issueof 100,000 Ordinary Shares at 5p per share. Further to the Company's announcement on 15 December 2006, concerning issuedshare capital and total voting rights, following the above issue of shares theCompany's issued share capital is now 66,214,920 Ordinary Shares of 1p each. Following the Issue the Directors' interests in Ordinary Shares will be asfollows: Director Ordinary Shares % of issued share % of issued share prior to the Issue capital prior to the capital after the Issue Ordinary Shares Issue after the IssueRobin Davies 661,265 1.0 825,765 1.2 Mike Hosie 683,590 1.0 899,010 1.4 John McLaughlin 8,234,500 12.5 8,234,500 12.4 Neil Reed 3,200,810 4.9 3,200,810 4.8 About X-Phonics plc X-Phonics was admitted to AIM in October 2005. The Company is an independentrecord label and media management company. The Company's activities includevideo production, songwriting and publishing. Currently the larger proportion of revenues are earned from audio and videoproduction and the provision of management services. The development of therecording business is expected to produce further revenues. As part of the Company's strategy to expand the recording business X-Phonicsacquired White Noise, a vehicle for the signing and development of previouslyunsigned writers and artists in August 2006. Enquiries X-Phonics plc - 07860 500001Mike Hosie, Managing Director W.H. Ireland Limited - 0121 616 2101Nicola Rayner This information is provided by RNS, the company news service from the LondonStock Exchange. This information is provided by RNS The company news service from the London Stock Exchange