6th Feb 2006 07:00
6 February 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA 121Media, Inc ("121Media" or the "Company") Placing of 1,600,000 new common shares of $0.001 (the "Placing Shares") at 150 pence per share (the "Placing Price") to raise ‚£2.4 million before expenses (the "Placing") 121Media, the online contextual advertising company, announces that CanaccordAdams Limited, on behalf of the Company, has conditionally placed 1,600,000 newcommon shares of $0.001 ("Common Shares") with UK and US based institutionalclients at 150 pence per share to raise ‚£2.4 million before expenses. ThePlacing is conditional, inter alia, upon admission of the Placing Shares totrading on AIM.Application will be made for the Placing Shares to be admitted to trading onAIM and trading is expected to commence on 9 February 2006. The Placing Shareswill represent approximately 16.34 per cent. of the enlarged issued commonshare capital of the Company.121Media delivers and manages targeted, contextual online advertising campaignson behalf of its clients. These clients are primarily the owners of well knownconsumer brands or online advertising agencies.121Media intends to use the proceeds from the Placing to continue theimplementation of its PageSense Javascript technology with Internet ServiceProviders (ISPs) as announced in the Company's Trading statement issued on 12January 2006.Kent Ertugrul, Chief Executive of 121Media, said:"We are delighted with the response to the placing by both existing and newshareholders. The proceeds from the placing will allow us to accelerate ourstrategy of entering into revenue sharing contracts with ISPs to provide themwith a highly targeted contextual advertising solution.I believe that the concept of the ISP acting as a broadcaster of content asopposed to a mere connection pipe is one whose time has come, especially astelevision and the internet continue to converge in terms of content. Throughadvertising support, consumers will increasingly benefit from cheaper andpotentially free connection to the internet. I am very pleased with ourprogress to date and excited that we are playing such a key role in defining anew pricing model for ISPs." -Ends- Enquiries:121Media Inc. 0870 405 7727 Kent Ertugrul, Chief Executive Hogarth Partnership 020 7357 9477 John Olsen / Barnaby Fry END121 MEDIA INCRelated Shares:
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