31st Jul 2007 15:19
3DM Worldwide PLC31 July 2007 For immediate release: 31 July 2007 3DM Worldwide plc ("3DM" or the "Company") Proposed Equity Placing Further to the "Notice of EGM" announcement dated 30 July 2007, the board of 3DMis pleased to announce that the Company has entered into placing agreements witha number of new and existing shareholders to raise £2,800,000. Pursuant to these agreements the Company has agreed to issue a total of57,377,049 new ordinary shares at a price of 4.88p ("the Placing Price") tocertain institutional and other investors. These agreements are conditional upon approval by shareholders at anExtraordinary General meeting ("EGM"), announced yesterday, of all the necessaryresolutions to enable the placing to proceed. The EGM is due to take place on 23August 2007. The funds raised will be used to repay the outstanding debt due to CornellCapital Partners Offshore LP ("Cornell") and to Montgomery Equity Partners LP("Montgomery"). The remaining balance due to Cornell and Montgomery isrepayable, unless previously converted into equity by 29 December 2007. It isthe Company's intention that the amounts will be settled before that date but inany event, subject to the necessary approvals being granted at the EGM, nofurther conversions to equity by Cornell or Montgomery will occur and all of theoutstanding debt will have been paid off by 29 December 2007. -ends - Enquiries: Company: Niall Mackay, C.E.O. Tel: 020 7692 7002 Evolution: Fergus Marcroft Tel: 020 7071 4300 Distributed by GTH Media Relations Tel: 020 7153 8035 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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