6th Dec 2005 16:00
FOR IMMEDIATE RELEASE 6 December 2005 Timestrip PLC (`Timestrip' or the `Company') Exercise of Warrants and Convertible Loan Stock Timestrip announces that it has received requests to exercise the following:166,666 Placing Warrants;5,000,000 A Warrants on behalf of Lloyd Traders Inc, a company owned jointly byStephen Oakes, Chairman, Timestrip PLC, Leo Knifton and Nigel Weller; and‚£50,000 convertible loan stock on behalf of General Commerce and InvestmentTrust Reg (`GCIT').Both Lloyd Traders Inc and GCIT were investors in the original Internet Music &Media `shell' and as such their holdings were detailed in the AdmissionDocument issued in February this year. Following the exercise of the A Warrantsabove, Lloyd Traders Inc hold 15,408,470 ordinary shares, representing 5.17% ofthe issued ordinary share capital. The holding remains subject to the `lock-in'provisions as detailed in that document.Accordingly the Company will issue a total of 11,416,666 ordinary shares of0.02p each (the `Shares'). The shares will rank, pari passu, with the existingordinary shares and application will be made for the Shares to be admitted totrading on AIM.Contact: Paul Freedman, Timestrip plc on 01462 440700Roland Cornish, Beaumont Cornish Limited on 020 7628 3396.ENDTIMESTRIP PLCRelated Shares:
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