25th May 2007 07:01
Works Media Group (The) PLC25 May 2007 THE WORKS MEDIA GROUP PLC ("The Works" or the "Company") ISSUE OF EQUITY AND BOARD APPOINTMENT The Works Media Group plc is pleased to announce the appointment of Costa Theoto the Board as non-executive director with immediate effect. The appointmentis linked to the investment yesterday of £500,000 in the equity of the Companyby Milcoz Films Limited ("Milcoz"), a company which produces and financesfeature films. Mr. Theo is Milcoz's Chief Executive. The funds raised by thetrade investment will be used to further develop The Works' UK Distribution andInternational Sales divisions, allowing the Company to invest further in theacquisition of film rights and to increase sales volumes. Norman Humphrey, CEO of the Works Media Group plc commented, "I am delighted towelcome Costa Theo onto the Board of The Works. Costa brings a wealth of filmindustry experience, expertise and contacts and the accompanying investment byMilcoz will greatly assist our growth strategy. There is an obvious synergybetween the production and film finance activity of Milcoz and The Works' corecompetence in film distribution and the sale of rights." Details of the investment Milcoz has invested £500,000 in new 0.1p ordinary shares of the Company at aprice of 3p per share, and has been granted the right to appoint Costa Theo, itsCEO, to the board of The Works for so long as Milcoz's shareholding remains ator above 10% of the issued share capital. The investment of £500,000 equates to 16,666,667 new ordinary shares,representing approximately 13.65% of The Works' enlarged issued share capital. Save as disclosed below, there are no further details required to be disclosedpursuant to the AIM Rules. Costa Milton John Theo, (age 34) Listed below are the names of the companies of which Mr Theo is or has been adirector or partner at any time in the past five years. Other Directorships Currently Held Former Directorships Held Within Last 5 Years UK NoneMilcoz Films LtdAces and Eights LtdInternational Construction ManagementConsultants (UK) LtdBlind Guy LtdI.C.M.C (UK) LtdSouth AfricaIntocast South Africa (PTY) LtdCorporator 54 (PTY) LtdT-Junction Trade and Invest 59 LtdUSABlind Guy Films LLCNetherlandsTheta Films BVCyprusBGD Theta Films LtdLuxembourgTheta Energy SARLFranceParc Eolien de la BruyereParc Eolien les MardeauxParc Eolien du CarreauParc Eolien de HetomesnilParc Eolien de LihusBritish Virgin IslandsLefkada Properties LtdTheta Film Holdings LtdTheta Finance LtdViking International Investments LtdDakota International Investments LtdInternational Legal Associates LtdCayman IslandsInternational Legal Associates LtdTurks & CaicosLa's Place LtdGreeceShona S.A.Matabili S.A.Dissie S.A. Application will be made to the London Stock Exchange for the admission of the new ordinary shares to trading on AIM. It is expected that dealings in the new ordinary shares will commence on 31 May 2007. For further information, please contact: Works Media Group plc Tel: 0207 612 0030Norman Humphrey, Chief Executive Officer City Financial Associates Limited Tel: 0207 090 7800James Caithie ICIS Tel: 020 7651 8688Tom Moriarty, Caroline Evans-Jones Notes to Editors Milcoz Films Limited Established in 2002, Milcoz Films is involved in all aspects of the filmindustry from development, financing, production to distribution. It hasproduced two films, "Out on a Limb" and "Blind Dating", and is part of the ThetaGroup, Theta Group The Theta Group is a privately owned conglomerate. It has a wide range ofinterests internationally. These include construction management, manufactureand supply of refractory products to the steel industry globally, wind parks inthe renewable energy sector in Europe, a property portfolio and film productionand financing. The Group seeks to invest in undervalued assets and increasetheir value by the provision of finance and management. The Group looks toinvest in emerging industrial sectors. Costa Theo Costa has been involved in the film industry for several years, and has producedtwo films for Milcoz Films Limited. He has experience in the legal, financialand creative aspects of the film business, being involved in projects fromdevelopment, to finance and distribution. He has also arranged and deployedthe print and advertising funds used to market films. Costa has been a senior executive of the Theta Group since 2005, and has beeninvolved with aspects of tax planning, corporate merger and acquisition,property development, the finance and construction of wind turbines in theenergy sector and setting up retail businesses over the internet. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Winking Studios