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5 Mar 2009 15:42
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BrightΒ Things plc
Notice of ExtraordinaryΒ GeneralΒ Meeting
The Board of Bright Things plc ('Bright Things' or the 'Company') today announces that an Extraordinary General Meeting ('EGM') of the Company has been convened for 10.30 a.m.Β on Monday,Β 30 March 2009Β at the offices of Faegre & Benson LLP at 7 Pilgrim Street, London EC4V 6LB.
The circular containing the Notice of EGM has been posted toΒ the Company'sΒ shareholders and is available on the Company's website: www.brightthings.com.
As announcedΒ on 2 March 2009,Β earlyΒ dataΒ hasΒ provided encouraging preliminary indications of the acceptance of theΒ SocialGOΒ product. However, as also announced, the Directors consider it is too early to estimate with any certainty the proportion of existing and future networks that will take up the subscription service.Β
With this in mind, the CompanyΒ is seeking shareholder approval to allot new ordinary sharesΒ for cashΒ to allow itΒ to raise additional working capital to meet the growth demand on networks and to help fund the business whilst seeking to grow revenues towards profitability.Β
The purpose ofΒ the EGM is to proposeΒ resolutionsΒ for shareholder approvalΒ granting,Β inter alia, the Directors the authority to allotΒ up toΒ 100,000,000Β new ordinary sharesΒ for cash otherwise thanΒ pro rataΒ to existing shareholders.Β The timing and quantum of the allotment of any of the new ordinary shares should authorisation be granted under the resolutions will be done at the discretion of the Directors.Β
For further information:
Bright ThingsΒ plc
Dominic Wheatley, CEO 07976 295 071
Charles Delamain, COO 07884 233 269
HB Corporate 020Β 7510Β 8600
Luke Cairns
Rory Creedon
Threadneedle Communications 020Β 7653 9850
Graham Herring
Alex White
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