React Group Regulatory News (REAT)

30 Aug 2006 07:00

X-Phonics plc30 August 2006 30 August 2006 X-Phonics Plc ("X-Phonics" or "the Company")(previously named Diablo Group plc) X-Phonics announces the re-admission of the Company's 65,735,000 ordinary sharesto trading today. • Placing: The Company has placed 24,562,500 ordinary shares of 1p at 4p per share to fundworking capital requirements. • Acquisition: The Company has today acquired the entire issued share capital of White NoiseMusic Limited from John McLaughlin for a consideration satisfied by the issue of8,234,500 ordinary shares valuing the acquisition at £329,380. • Option: The Company has been granted an option to acquire an interest of up to 24.99 percent. of the share capital of Terminal Music Limited by John McLaughlin andStuart McCredie for a consideration of up to £249,900 (being £10,000 for eachpercentage interest acquired. • Share reorganisation: Following the approval of a special resolution at the Extraordinary GeneralMeeting held on 29 August 2006, the Company's share capital has been subject toa reorganisation whereby: each existing 32,938,000 issued ordinary shares of 7.5p has been subdivided intoone ordinary share of 1p and one deferred share of 6.5p and: a consolidation and subdivision has taken place of every two of the existing100,396,000 unissued ordinary shares of 7.5p into 15 ordinary shares of 1p. • Change of name: Following the approval of a special resolution at the Extraordinary GeneralMeeting held on 29 August 2006, the Company's name has been changed from DiabloGroup Plc to X-Phonics plc. Board Change: The Company is pleased to announce that John Ignatius McLaughlin (aged 41) hasjoined the Board today as Managing Director. John McLaughlin is a successful songwriter and producer with over 20 yearsexperience in the music industry and a demonstrated ability for producing hitrecords. He has achieved over 30 top ten singles around the world includingnumber one records for Busted, Westlife and 5ive. He holds or has held thefollowing directorships in the last five year period: Present Directorships:J.M. Songs LimitedTerminal Music LtdWhite Noise Music LimitedUs & Them Records Limited Past Directorships:Midas Music Factory Limited (dissolved)All Things Music Productions Limited. As from today's date, John McLaughlin holds (jointly with Mrs SharonMcLaughlin, his wife) 8,234,500 ordinary shares in X-Phonics representing 12.5per cent of the share capital of the Company. There is no further information to disclose in accordance with Schedule 2(g) ofthe AIM Rules. Enquiries: Mike Hosie, X-Phonics plc: Tele: 07860500001 Ruth Gifford, W H Ireland Limited: Tele: 0121 616 2101 Chris Roberts/ Ben Simons, Hansard Communications: 0207 245 1100 This information is provided by RNS The company news service from the London Stock Exchange