8th May 2006 08:00
Interactive World plc08 May 2006 Interactive World plc First days dealings on AIM Interactive World raises £2 million to fund growth strategy Interactive World plc ("Interactive World" or "the Company"), a distributor ofdigital media content to mobile phone and internet users, announces today thedealings in its ordinary shares on the AIM market of the London Stock Exchangeunder the ticker symbol ITW. The Company raised £2 million (before expenses) of new expansion funds, and £5million in replacement capital. Daniel Stewart & Company plc, the Company'sNominated Adviser and Broker, placed 2,739,727 New Ordinary Shares at 73 penceper share and the Company now has a high quality institutional shareholder base.The issued share capital on Admission is 38,450,438 Ordinary Shares,capitalising the Company at £28.07 million. The proceeds of the Placing will be used for working capital purposes,investment in people (the recruitment of experienced practitioners), officeopenings and acquisitions. Rob Johnson, Chief Executive of Interactive World, said: "The AIM listing and fund raising provides the funds we need to exploit theexplosive growth in the mobile content market. By joining AIM we can have ahigher profile as we aim for a leadership position in our exciting marketplace.In recent years, mobile technology has developed in leaps and bounds, and we arepleased to say the evolution continues apace. Today's mobile users haveincreasingly high expectations that their devices can deliver high-qualityinformation and entertainment. We believe Interactive World is now in afantastic position to take advantage of the opportunity." Placing statistics Placing price per Ordinary Shares - 73 pence Number of New Ordinary Shares being issued pursuant to the Placing - 2,739,727 Number of Ordinary Shares in issue immediately following the Placing -38,450,438 Market Capitalisation following the Placing at the Placing Price - £28.07million Percentage of enlarged issued Ordinary Share capital being placed - 7.13% Estimated net proceeds of the Placing receivable by the Company - £1.37 million Enquiries: Interactive World 020 8507 6969 Rob Johnson, Chief Executive Andrew Fletcher, Finance Director Daniel Stewart 020 7776 6550 Lindsay Mair Gresham PR Ltd 020 7404 9000 Neil Boom David Pettet Information on Interactive World can be accessed via the Group's website:www.interactiveworld.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SPMG.L