Last checked at 21 Oct 2008 07:00
Bright Things Plc
('Bright Things' or the 'Company')
Issue of Equity
Bright Things Plc is pleased to announce that further to the announcement made on 30 September 2008, the Company has raised a further £50,000 through a conditional subscription for 4,000,000 new ordinary shares ("the Shares") together with 2,000,000 warrants at 1.25 pence per share ("the Subscription") on the same terms as the placing announced on 30 September (the "Placing").
The additional finance has been raised from employees of Get On With It Limited, a company that is contracted by Bright Thing's wholly owned subsidiary, Commonworld Limited, to complete the development of the SocialGo, the Company's software product offering that allows users to create their own private social network.
As with the Placing, the Subscription is conditional upon, amongst other things, the passing of the relevant resolutions at the Annual General Meeting. The Shares will rank pari-passu with the existing ordinary shares. Application has been made for the Shares to be admitted to AIM and are expected to be admitted to trading on AIM on 24 October 2008.
Following the Placing and the Subscription, there will be 127,676,328 ordinary shares in issue.
Dominic Wheatley commented:
"We are delighted that key staff who are managing and helping to develop our innovative new product have decided to invest in Bright Things. This demonstrates their belief in the product, and gives them a real interest in the success of the Company."
For more information please see www.brightthings.com
Bright Things PLC 0870 351 7770
Dominic Wheatley, CEO
Edward Levey, Finance Director
HB Corporate
Luke Cairns/ Rory Creedon Tel: +44 (0) 207 510 8600
Brunswick Group
Giles Croot / Mark Antelme, Tel: +44 (0) 207 404 5959