9th Dec 2008 07:30
TV COMMERCE HOLDINGS PLC
ISSUE OF EQUITY
The Board of TV Commerce Holdings plc (the "Company") announces it has raised £350,000 (before expenses) by the issue and allotment of 58,333,333 new ordinary shares at a price of 0.6p per share to Allianz Insurance PLC, conditional on these shares being admitted to trading on AIM. The net proceeds will be used for general working capital purposes.
The 58,333,333 shares will represent approximately 4.4 per cent of the so enlarged issued share capital of the Company.
Application will be made for the shares, which will rank pari passu with existing ordinary shares, to be admitted to trading on the AIM market of the London Stock Exchange. It is expected that Admission will become effective and that dealings in the shares will commence on or around 15 December 2008.
Following admission, the issued share capital of the Company will be 1,322,512,965 ordinary shares of 0.02p each.
Enquiries:
David Hargreaves, CEO TV Commerce Holdings plc Tel: 078 8443 7468
Aaron Smyth (NOMAD) Dowgate Capital Advisers Ltd Tel: 020 7492 4777
Philip Dumas (Broker) Dowgate Capital Stockbrokers Ltd Tel: 020 7492 4799
Further information can be found on the Company's website, www.tvcommerce.co.uk.
Related Shares:
EDL.L