Update on Offer

Boomerang Plus plc 

("Boomerang") 

Update on Offer

Cancellation of trading on AIM

Resignation of Directors

Update on Offer

The Board notes the announcement made earlier today by Boom Pictures Limited ("Boom Pictures Limited"), that the offer by Boom Pictures for the entire issued and to be issued share capital of Boomerang (the "Offer"), has been declared unconditional as to acceptances.

Boom Pictures further announced that as at 5.30 p.m. on 26 July 2012, Boom Pictures had received valid acceptances from Boomerang shareholders in respect of a total of 6,434,730 Offer Shares, representing approximately 97.3 per cent. of the total Offer Shares.

The Board notes that all of the conditions to the Offer as set out in the offer document dated 4 July 2012 have now been satisfied or waived and, accordingly, the Offer has been declared unconditional in all respects.

Boom Pictures also stated its intention to exercise its rights pursuant to sections 974 to 991 of the Companies Act 2006 to acquire compulsorily the remaining Offer Shares in respect of which the Offer has not been accepted following the Offer becoming or being declared unconditional in all respects.

Cancellation of Admission to Trading on AIM

In relation to the above, and at the request of Boom Pictures, Boomerang is applying to the London Stock Exchange for the cancellation of admission to trading of Boomerang Shares on AIM ("Cancellation").

Cancellation of the AIM quote is expected to be effective from 7.00am on 28 August 2012.

Cancellation will significantly reduce the liquidity and marketability of any Boomerang shares that have not been accepted to the Offer. Following the Cancellation, there will be no future market for a Boomerang shareholder to realise their investment in Boomerang. Shareholders are still able to buy and sell Boomerang shares prior to the Cancellation.

Resignation of Directors

Boomerang also announces the resignation of Richard Huntingford, Roger Moore and Linda James from the Board of Directors, effective as from 26 July 2012.

The Board of Boomerang would like to thank them for their considerable contribution to the development of Boomerang.

Words and expressions defined in the Offer Document shall, unless the context provides otherwise, have the same meanings in this announcement.

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