loan note subscription

23 Dec 2005 07:30

Brainspark PLC23 December 2005 FOR IMMEDIATE RELEASE 23 DECEMBER 2005 BRAINSPARK PLC ("Brainspark" or the "Company") £850,000 Loan Stock fully subscribed Option over Infusion 2002 shares effective The Company is delighted to announce that further to the announcement on 2December 2005, ("£850,000 Loan Stock"), all subscription monies were receivedby the 10 December 2005 deadline, and all funds have been transferred into the Company. Mr Francesco Gardin, Chairman, has subsequently transferred Loan Stock to thevalue of £50,000 to Mr Dennis Bailey, proposed director. The Company intendsto announce the appointment of Mr Bailey in the near future. In addition, and further to the announcement on 8 August 2005, the Companyannounces that it has agreed pursuant to the agreement signed ("the Call OptionAgreement") to grant a call option (the "Option") to AISoftware SpA("AISoftware") over the entire issued share capital of its wholly ownedsubsidiary, Infusion 2002 Limited ("Infusion"). The condition that, by the 31October 2005 Infusion 2002 will have no assets or liabilities other than theinvestment in ACS, has been satisfied and formally accepted by AISoftware on 14December 2005. ENDS Further information Francesco Gardin, Brainspark PLC 020 7843 9838Roland Cornish, Beaumont Cornish Limited 020 7628 3396 This information is provided by RNS The company news service from the London Stock Exchange