9th Mar 2010 08:17
9 March 2010 iPoint-media plc ("iPoint" or the "Company") Further re: Subscription Offer Application for admission to trading on AIM
Further to the announcement released by the Company on 17 February 2010, the Company announces that cleared funds amounting to £175,112.47 have been received in respect of the remainder of the valid applications.
Accordingly, the Company therefore intends, conditional on admission to trading on AIM, to allot 713,834 Placing Shares and 1,516,898 Bonus Shares and issue £ 142,766.85 of Loan Notes in respect of the applications for which cleared funds have been received.
In summary, pursuant to the Open Offer and the Subscription Offer, the Company has issued £1,407,871.39 of Loan Notes and allotted 7,042,085 Placing Shares and 14,978,075 Bonus Shares. It is a term of the Subscription Offer and the Open Offer that the Bonus Shares will not be capable of being sold, transferred or pledged to any third party for a period of one year from issue in respect of all the Bonus Shares subscribed under the Subscription Offer and for a period of a further year in respect of 50 per cent. of the Bonus Shares subscribed under the Subscription Offer.
In addition, pursuant to the engagement letter with Charles Street Securities Europe LLP dated 11 June 2009, the Company has allotted a further 1,901,181 Bonus Shares to CSS Capital Managers LLP. These Bonus Shares will not be capable of being sold, transferred or pledged to any third party for a period of one year from issue and for a period of a further year in respect of 50 per cent. of these Bonus Shares.
Application has been made for 4,131,913 Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 12 March 2010.
Defined terms used in the announcement on 26 August 2009 shall have the same meanings in this announcement.
Further enquiries:iPoint-media plc Muki Geller +972 (0) 544 450 667
Merchant John East Securities Limited David Worlidge +44 (0) 207 628 2200
Bidhi Bhoma
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