AGM Statement

27 Jul 2005 16:11

Westside Acquisitions PLC27 July 2005 Westside Acquisitions plc ("Westside" or "the Company") Investment in Messaging International plc Westside is pleased to announce that it holds, through its wholly ownedsubsidiary Reverse Take-Over Investments plc, 20,000,000 ordinary shares inMessaging International plc ("Messaging International"), representing 17.33 percent. of the entire issued share capital of Messaging International and10,000,000 warrants to subscribe for ordinary shares in Messaging Internationalat 5p per share, representing 20 per cent. of the warrants issued by MessagingInternational. Messaging International has developed cross-platform media messaging managementsystems and applications which are designed to enable PC, browser, mobile phoneand wireline telephone users to send, receive and manage voice messages, e-mail,SMS, instant messaging and multi media messaging across various media platforms. Messaging International placed firm 30,000,000 new ordinary shares at 5p pershare, together with one warrant to subscribe for new ordinary shares in respectof every three ordinary shares subscribed for in the placing. The entire issued share capital and the warrants of Messaging International areexpected to be admitted to trading on AIM on 3 August 2005 with a marketcapitalisation of approximately £5.77 million. Accordingly, the market value ofWestside's shareholding in Messaging International, based on the placing priceof ordinary shares in Messaging International, is approximately £1 million. This information is provided by RNS The company news service from the London Stock Exchange