Loan Update

20 Apr 2007 13:36

Cellcast plc20 April 2007 Press Release 20 April 2007 Cellcast plc ("Cellcast" or "the Company") Loan Facility, Conversion to Equity and Placing Cellcast plc (AIM:CLTV), the global interactive digital broadcaster, announcesthat it has drawn down the remaining £602,000 of its £1 million convertible loanfacility with Headstart Funds ("Headstart") (the "Headstart Facility"). Headstart has today issued two conversion notices in respect of: • the £200,000 convertible redeemable loan notes issued to it in respect of the £173,000 drawdown by the Company under the Headstart Facility on 20 February 2007 and the remaining £27,000 of the £225,000 drawdown by the Company under the Headstart Facility on 19 January 2007; and • the £602,000 convertible redeemable loan notes issued to it in respect of the £602,000 drawdown by the Company under the Headstart Facility on 20 April 2007. In the conversion notices, Headstart has directed that the 10,025,000 sharesissued pursuant to the notices (the "Conversion Shares") be issued and placedwith investors at 8p per share. Furthermore, the Board has issued 1,954,127 shares to HB Corporate in lieu offees at 8p per share. Application has been made to The London Stock Exchange for the ConversionShares, which will rank pari passu with the existing shares in issue, to beadmitted to AIM, and admission is expected to become effective on or around 26April 2007. Following this notification, the total number of shares in issue stands at61,967,574. - Ends - For further information: Cellcast plcAndrew Wilson, CEO Tel: +44 (0) 20 7190 0300andrew@cellcast.tv www.cellcast.tv HB CorporateEdward Hutton / Rachel Kane Tel: +44 (0) 20 7510 8600e.hutton@hbcorporate.co.uk www.hbcorporate.co.uk Media enquiries:AbchurchGareth Mead / Joanne Shears Tel: +44 (0) 20 7398 7700gareth.mead@abchurch-group.com www.abchurch-group.com Notes to Editors: Cellcast plc Cellcast plc (AIM:CLTV) is a leading international provider of participationtelevision applications and interactive mobile content in the fast-growingmulti-platform digital entertainment sector. Headquartered in London, withassociated operations in Paris, Beirut, Mumbai, Miami, Hong Kong and Sao Paolo,Cellcast's applications and programming are distributed on the Sky Digital andFreeview platforms in the UK and broadcast partners include Canal+ in France;Future TV, Dubai Television and Rotana TV in the Middle East; Zee TV, STAR TVand Sahara TV in India; TVS-3 in China; TV3 in Malaysia; and Rede TV, TV Gazettaand TV Banderantes in Brazil. Cellcast plc joined the AIM market of the London Stock Exchange in 2005. This information is provided by RNS The company news service from the London Stock Exchange