Issue of Equity

13 Nov 2007 13:20

Avanti Screenmedia Group PLC13 November 2007 13 November 2007 Avanti Screenmedia Group PLC ("Avanti" or the "Company") Issue of Equity The Company announced on 4 September 2007 that it had raised £100,000 throughthe issue of a 10% Convertible Loan (the "Convertible Loan"), details of whichwere sent to shareholders in a circular on 25 September 2007 and approved at theEGM on 18 October 2007. The Company has now received notice to convert from Dr Moe Bakarat, the holderof the Convertible Loan. Accordingly the Company has issued and allotted 5.0million new ordinary shares, representing approximately 13.37 per cent. of theCompany's issued share capital, to satisfy conversion of the entire ConvertibleLoan . These new ordinary shares will rank pari passu with the existing ordinary sharesof the Company, and trading is expected to commence on Friday 16 November 2007.Following the issue of the new ordinary shares, the Company will have37,386,073 ordinary shares in issue. Enquiries: Avanti Screenmedia Group plc 0207 902 2345Simon Rees, Chief ExecutiveGary Truman, Finance Director Charles Stanley Securities 020 7149 6000Nominated AdviserRussell Cook / Freddy Crossley Bishopsgate Communications Limited 020 7562 3355Jenni Herbert This information is provided by RNS The company news service from the London Stock Exchange