Result of Placing

13 Dec 2006 17:54

Avanti Screenmedia Group PLC13 December 2006 13 December 2006 Avanti Screenmedia Group PLC ("Avanti" or the "Company") Result of placing Avanti is pleased to announce the successful completion of the placing (the "Placing") announced earlier today. A total of 1,587,301 new ordinary shares of 1 pence each (the "Placing Shares") have been conditionally placed with institutions at a price of 315 pence per share, raising approximately GBP5 million before expenses. The Placing Shares will be issued credited as fully paid and will rank pari passu in all respects with Avanti's existing ordinary shares, including the right to receive all dividends and other distributions declared, made or paid (if any) after the allotment of the Placing Shares. The Placing is conditional upon, inter alia, the admission of the Placing Shares to trading on AIM. It is expected that settlement will occur, and dealings in the Placing will commence, on 9th January 2007. Enquiries: Avanti Screenmedia Group plc 020 7749 1600David Williams, Chief Executive Hoare Govett 020 7678 8000Lee Morton Smithfield 020 7903 0676Sara MusgraveTania Wild THIS ANNOUNCEMENT IS NOT FOR RELEASE, OR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR AUSTRALIA Hoare Govett, which is authorised and regulated by the Financial Services Authority, is acting exclusively for the Company and for no one else solely in connection with the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to the customers of Hoare Govett or for providing advice in relation to the Placing. This information is provided by RNS The company news service from the London Stock Exchange