Issue of Equity

7 Mar 2007 12:01

Earthport PLC07 March 2007 NEWS RELEASE 7 March 2007 Earthport plc ("Earthport" or the "Company") Issue of Equity Earthport is pleased to announce that it has raised a further £1,067,650 for thecompany through the issue of 4,641,955 new Ordinary Shares of 10p each in theCompany at 23p per Ordinary Share. This completes the equity funding round announced on 7 December 2006 and 2January 2007 on the same terms. The round was closed at £3.0m. (an extra £68,000allowed one institution to be allotted the full amount it had subscribed for). The new Ordinary Shares have been issued and allotted and application has beenmade for them to be admitted to AIM on 13 March 2007. The new Ordinary Shares will rank pari passu with the existing Ordinary Sharesin the Company. Following the admission of the new Ordinary Shares, the Company's issued sharecapital will consist of 47,273,060 Ordinary Shares of 10p each, with votingrights. This figure may be used by shareholders in the Company, to determine if they arerequired to notify their interest in, or a change in their interest in, theshare capital of the Company under the FSA's Disclosure and Transparency rules. David Fife, CEO of Earthport commented "The completion of this round of fundingwith a range of US and UK investors, combined with recent US channel partnerswins that we have announced, marks another positive milestone in Earthport'sprogress towards being recognised as the leading international Universal PaymentNetwork ('UPN')". Mike Harrison, Chairman noted "We are pleased with the widening of ourinstitutional shareholder base and the continued support of existing investors,which offers further validation of the significant potential of Earthport's UPN" The board would like to thank KeyIP Ltd for their assistance in this successfulinvestment round. Ends Press Enquiries Mike Harrison Chairman - Earthport plc +44 20 7220 9700Mark Ashurst - Canaccord Adams Limited +44 20 7050 6500Lulu Bridges/Polly Hutchinson +44 20 7920 3150 This information is provided by RNS The company news service from the London Stock Exchange