31st Mar 2006 07:02
Zest Group PLC31 March 2006 31 March 2006 Zest Group plc (AIM: ZEST) Acquisition of Greensleeves Records Limited Re-admission of Ordinary Shares to trading on AIM Zest Group plc ('Zest' or 'the Company') announces the re-admission of itsOrdinary Shares to trading on AIM today following the acquisition ofGreensleeves Records Limited ("Greensleeves") an established, independent recordlabel and music publisher which specialises in reggae music. Key Points: • A total of 173,619,050 Ordinary Shares were admitted to trading,giving a market capitalisation at the Placing Price of £5,208,572. • Zest was admitted to AIM in March 2005 as a music productioncompany, record label and music publisher. • At an extraordinary general meeting held on 30 March 2006, allresolutions were passed, including approval of the acquisition of GreensleevesRecords Limited, and the Placing of 83,333,334 Ordinary Shares at 3p per share. • Greensleeves is based in the UK, has a promotions office in NewYork and has an established presence in a number of the specialist reggaemarkets throughout the world and, in particular, the UK, the USA, Japan, France,Germany, Benelux, Canada and Scandinavia. • The Company's Nominated Adviser and Broker is W.H. IrelandLimited. Greensleeves has a comprehensive reggae back catalogue from the 1980s onwards.It owns approximately 400 albums and 900 singles on its label and is currentlyreleasing between 15 and 20 new albums per year and intends to continue itsre-issue programme Greensleeves currently has 29 writers under contract and owns or administers thecopyright in over 18,000 reggae titles. In 2004 one of Greensleeves' former writers, Stephen Marsden, won the covetedASCAP (American Society of Composers and Performers) Award for most performedsong of the year in the United States of America with the song "Get Busy" aswell as two further most performed song awards for "Never Leave You (Uh Oh UhOh)" and "No Letting Go" which were all written whilst under contract withGreensleeves. Steve Weltman, Chief Executive of Zest, commented: "The acquisition of Greensleeves will make Zest one of the largest independentreggae publishers and record labels in Europe and we believe that it shouldenable us to achieve immediate profitability." Enquiries: Steve Weltman, Chief ExecutiveZest Group plc tel: 0870 389 6999John Bick tel: 0870 389 6999 Tim Cofman/ Ruth Gifford tel: 0121 616 2101W.H. Ireland Limited The information contained herein is restricted and is not for release ordistribution in or into the United States of America, Canada, Australia, theRepublic of South Africa, the Republic of Ireland or Japan. This press release has been issued by Zest Group plc and is the soleresponsibility of Zest Group plc and has been approved for the purposes ofSection 21 of the Financial Services and Markets Act 2000 by W.H. IrelandLimited ('W.H. Ireland') of 11 St James's Square, Manchester, M2 6WH. W.H.Ireland, which is regulated by the Financial Services Authority, is acting asthe nominated adviser for Zest Group plc and will not be responsible to anyother person for providing the protections afforded to clients by W.H. Irelandor for providing advice regarding the Placing. This document does not constitute an offer or invitation to purchase orsubscribe for any securities of Zest Group plc and should not be relied on inconnection with any decision to purchase or subscribe for any such securities.The securities referred to herein have not been nor will be registered under theUnited States Securities Act of 1933 (as amended) nor under the securitieslegislation of any state of the United States of America or of any province orterritory of Canada, Australia, the Republic of South Africa, the Republic ofIreland or Japan or in any country, territory or possession where to do so maycontravene local securities law or regulations. Accordingly, these securitiesmay not, subject to certain exceptions, be offered or sold directly orindirectly in or into the United States of America, Canada, Australia, theRepublic of South Africa, the Republic of Ireland or Japan or to any national,citizen or resident of the United States of America, Canada, Australia, theRepublic of South Africa, the Republic of Ireland or Japan. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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