18th Dec 2007 07:01
DQ Entertainment PLC18 December 2007 DQ Entertainment PLC ("DQE" or "the Company") Admission to AIM - First day of dealings announcement DQ Entertainment plc, a leading animation and gaming content production company, announces that dealings have today commenced in its shares following its admission to AIM ('Admission'), under the ticker symbol 'DQE.L'. The Company has raised £26.8 million (before expenses), through a placing of 19,727,961 new ordinary shares of 0.1p each ("Ordinary Shares") at a placing price of £1.36 per share ("Placing Price"). The new Ordinary Shares, which represent approximately 54.9 per cent. of DQE's issued share capital pursuant to the placing, have been placed by Evolution Securities Limited and E\* TRADE Securities Limited. On Admission, the number of Ordinary Shares in issue will be 35,966,047, giving an approximate market capitalisation of £48.9 million at the Placing Price. Proceeds will be used primarily for expansion of production facilities,investment in intellectual property partnerships and possible acquisitions andjoint ventures. Evolution Securities Limited is acting as nominated adviser and joint broker tothe Company and E\* TRADE Securities Limited is acting as joint broker. Tapaas Chakravarti, Chairman and Chief Executive Officer of DQE, said: "DQE's flotation on AIM will boost the international profile of DQE and giveimpetus to its already established business model. DQE provides investors withthe opportunity to invest in the rapidly growing global animation market. Theglobal animation and game art industry has witnessed a paradigm shift in the useof technology to fulfil ever increasing creative needs across all platforms ofdistribution. The capital raised will allow DQE to keep pace with thesetechnological advances, manage its growth and deliver great value to theshareholders in the coming years." For further information contact: Evolution SecuritiesTom Price / Jeremy Ellis / Chris Clarke +44 (0) 20 7071 4300 E\* TRADE Securities LimitedBruce Hilland +44 (0) 20 7516 1315 Bell Pottinger Corporate & FinancialNick Lambert / Chris Hamilton +44 (0) 20 7861 3232 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
DQE.L