First Day Dealings

20 Oct 2005 07:00

Diablo Group plc 20 October 2005 Diablo Group Plc First Day Dealings on AIM Diablo Group Plc ('Diablo' or 'the Group') announces the admission of its Ordinary Shares to trading on AIM. Key Points • Diablo's shares begin trading on AIM today. • A total of 32,938,000 Ordinary Shares are being admitted to trading, giving a market capitalisation of £3,293,800 at the placing price of 10p per share. • Diablo is an independent record label and media management company. • Diablo has three bands under contract which have achieved recognition in their respective market sectors. It released its first Dive Dive album in 2005 and the other two bands, Twen2y 4 Se7en and Kingskin, are expected to have albums released in the next six months. • The Group's activities include video production, songwriting and publishing. Currently the larger proportion of revenues are earned from audio and video production and the provision of management services. Development of the recording business is expected to produce further revenues. • The Group intends to generate additional revenues from the marketing and release of singles and albums by other record labels and music management companies and by providing management services. • Diablo's Nominated Adviser is W.H. Ireland Limited. • Diablo's Joint Brokers are W.H. Ireland Limited and S.P. Angel & Co Limited. Robin Davies, Chairman, commented: 'I believe that the current market provides an opportunity for Diablo to maximise revenues and increase industry profile through offering our wide range of products and services. Admission to AIM provides the additional opportunity to further develop the business, and we look forward to the future with confidence. ' Enquiries: Diablo Group Plc: Michael Hosie: telephone 01342 870 011 W.H. Ireland Limited: Tim Cofman/Ruth Gifford: telephone 0121 616 2101 The information contained herein is restricted and is not for release or distribution in or into the United States of America, Canada, Australia, the Republic of South Africa, the Republic of Ireland or Japan. This press release has been issued by Diablo Group plc and is the sole responsibility of Diablo Group plc and has been approved for the purposes of Section 21 of the Financial Services and Markets Act 2000 by W.H. Ireland Limited ('W.H. Ireland') of 11 St James's Square, Manchester, M2 6WH. W.H. Ireland, which is regulated by the Financial Services Authority, is acting as the nominated adviser for Diablo Group plc and will not be responsible to any other person for providing the protections afforded to clients by W.H. Ireland or for providing advice regarding the Placing. This information is provided by RNS, the company news service from the London Stock Exchange. This information is provided by RNS The company news service from the London Stock Exchange