8th May 2006 10:16
Immedia Broadcasting plc08 May 2006 Monday 8 May 2006 Immedia Broadcasting PLC Completion of Acquisition of The Cube Group of Companies Limited Appointment of Executive Directors and Completion and Allotment of Shares Immedia Broadcasting PLC is pleased to announce completion of the acquisition ofThe Cube Group of Companies Limited and the appointment of Fiona Ryder and RossPenney as Executive Directors, as part of the acquisition. Immedia is also pleased to announce the issue and allotment of 1,632,653Ordinary Shares to the Vendors as part of the consideration. Bruno Brookes, Chief Executive said: "We are delighted by the acquisition of Cube and the appointment of Ross andFiona to the Immedia Board. We believe Cube is a perfect fit for Immedia and weare very excited about entering a new phase in Immedia's development." After having studied at Film and Photographic Arts at the University ofWestminster, Fiona Ryder (39) set up her first company producing large screenadvertising and entertainment packages for the live music industry in 1994. In1999 she spotted a similar need in retail and set up Cube, with the specificintention of developing in-store television networks. Fiona has been CEO ofCube ever since. Having graduated from Cambridge University in 1986, Ross Penney (42) specialisedin music copyright and operational and general management. He was Head ofLicensing at Video Performance Limited, when he completed an MBA at ImperialCollege, London. He set up a music copyright and strategic consultancy,Khronos, in 1998 and in 2002 joined Cube. Ross is responsible for managing theoperations of the company. As a result of this share issue, Fiona Ryder will hold 717,120 sharesrepresenting 5.34% of the issued share capital of the Company. Ross Penney willhold 246,599 shares representing 1.83% of the issued share capital of theCompany. Directorships currently held: Fiona Winifred Mary Ryder - Cube Music Limited and The Cube Group of CompaniesLimited. Samuel Ross Penney - Cube Music Limited, and The Cube Group ofCompanies Limited. Previous Directorships held in the past five years: Fiona Ryder - Cubation Limited, Cube Sports Advertising Limited, and Cube TV Limited.Ross Penney - SM Engineering Limited. There is no further disclosure. For further information please contact: Immedia Broadcasting PlcBruno Brookes - Chief Executive 01635 572 800 Daniel Stewart & Company PlcMarc Young / Chloe Ponsonby 020 7776 6550 Hudson SandlerNick Lyon / Amy Faulconbridge 020 7796 4133 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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