Winking Studios Regulatory News (WKS)

30 Oct 2007 07:01

Works Media Group (The) PLC30 October 2007 THE WORKS MEDIA GROUP PLC ("The Works" or the "Company") ISSUE OF EQUITY The Works Media Group plc is pleased to announce the investment of £763,097 inthe equity of the Company by Milcoz Films Limited ("Milcoz"), a company whichproduces and finances feature films. Mr. Costa Theo, a non-executive directorof The Works, is also Milcoz's Chief Executive. The funds raised by this tradeinvestment will be used to develop The Works' UK Distribution and InternationalSales divisions, allowing the Company to invest further in the acquisition offilm rights and to increase sales volumes. Milcoz has invested £763,097 in new 0.1p ordinary shares of the Company at aprice of 3p per share. The investment equates to 25,436,562 new ordinaryshares, representing approximately 17.24% of The Works' enlarged issued sharecapital. Prior to the issue of these new ordinary shares, Milcoz was interestedin 18,666,667 ordinary shares in the Company, so as a result of this placing itis now interested in 44,103,229 ordinary shares representing 29.90% of theCompany's issued share capital. Application will be made to the London Stock Exchange for the admission of thenew ordinary shares to trading on AIM. It is expected that dealings in the newordinary shares will commence on 2 November 2007. Following the issue of thenew ordinary shares, the Company will have 147,502,437 ordinary shares in issue. Costa Theo, Chief Executive, Milcoz, said, "Following our initial investment inthe Works in May of this year, we are delighted to have the opportunity toincrease our investment in the Company. We believe The Works has an excellentbusiness model designed to fully leverage its growing library of film contentand a highly experienced management. An important part of their continuedsuccess is to ensure the Company has the ability to acquire more rights to fuelfurther long term growth. This investment will strengthen the Company and as ashareholder in The Works, we look forward to sharing in its continued long termsuccess." For further information, please contact: Works Media Group plc Tel: 0207 612 0030Norman Humphrey, Chief Executive Officer City Financial Associates Limited Tel: 0207 492 4777James Caithie ICIS Tel: 020 7651 8688Tom Moriarty, Caroline Evans-Jones This information is provided by RNS The company news service from the London Stock Exchange