18th Jan 2007 07:01
Cellcast plc18 January 2007 Press Release 18 January 2007 Cellcast plc ("Cellcast" or "the Company") Convertible Loan and Issue of Equity Cellcast plc (AIM:CLTV), the global interactive digital broadcaster, announcesthat it has entered into a convertible loan agreement of up to £1 million withthe Headstart Funds ("Headstart"). These additional funds will be used tostrengthen the ongoing working capital position of the Company and to supportCellcast's rapidly developing international operations. The Facility is available for a term of two years, with interest payable at arate of 8 per cent per annum, with the first tranche of £225,000 to be drawndown on 21 January 2007. Headstart has the option to convert any part of the loan which is outstandinginto equity at any time for a period of 360 days from the date that tranche ofthe loan was made available. Headstart has been issued five year warrants in respect of 1,000,000 OrdinaryShares of the Company at an exercise price of 8 pence per share. The Company has also issued and allotted 355,555 new Ordinary Shares of 3 penceeach to Headstart at a price of 8 pence per share as part of the arrangement. Capitalisation of Debt Cellcast also announces the following recapitalisation of £131,969.20 of debtthrough the issue of 1,649,615 new Ordinary Shares at a price of 8 pence pershare. These will be allotted to current significant shareholders SMS Media Limited,Atlas Group of Companies Limited and Sardik Limited accordingly. Theseshareholders will then hold the following amount of the issued share capital ofthe Company: No. of Ordinary Shares Percentage heldSMS Media Limited 9,680,062 20.66%Atlas Group of Companies Limited 8,645,635 18.46%Sardik Limited 1,992,662 4.25% Furthermore, the Board has issued warrants in respect of 1,875,000 OrdinaryShares of the Company at an exercise price of 8p per share to HB Corporate forcorporate advisory services in relation to the placing conducted in August 2006and the arrangement of the above mentioned convertible loan agreement. Following this notification, the total number of shares in issue stands at46,845,590. - Ends - For further information:Cellcast plcAndrew Wilson, CEO Tel: +44 (0) 20 7190 [email protected] www.cellcast.tv HB CorporateImran Ahmad / Cecil Jordaan Tel: +44 (0) 20 7510 [email protected] www.hbcorporate.co.uk Media enquiries:AbchurchHenry Harrison-Topham / Gareth Mead Tel: +44 (0) 20 7398 [email protected] 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 BuenosAires, Cellcast's applications and programming are distributed on the SkyDigital and Freeview platforms in the UK and broadcast partners include Canal+in France; STB in Ukraine; Future TV, Dubai Television and Rotana TV in theMiddle East; Zee TV in India; TVS-3 in China; TV3 in Malaysia; and Canal Americain Argentina. Cellcast's revenues streams are independent of both advertising and subscriptionfees. With a network of revenue sharing agreements with telecommunicationscarriers and aggregators across five continents, Cellcast receives a share ofthe call revenue every time a consumer uses a mobile or fixed-line phone toparticipate in its interactive entertainment, revenue which is retained orshared with its broadcast partners. Cellcast's programme formats and proprietaryInteractive Platform (CIP) also facilitate delivery of content to mobile phones,the internet and broadband-delivered IPTV. This enables viewers to continueparticipating in a programme away from the TV, generating 24/7 revenueopportunities. Cellcast plc joined the AIM market of the London Stock Exchange on 21 September2005. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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