Vision Media Group International | News
5th April 2006 Proposed Placing of 300,000,000 Placing Shares at 1p per share
ScreenFX plc (AIM:SFX), the digital advertising and communications specialists, announces today that it is to raise £3 million, before expenses, by way of a Placing of 300,000,000 new Ordinary Shares at a price of 1p per Placing Share. The Placing is conditional on, inter alia, Shareholder approval at an Extraordinary General Meeting convened for 11.00 a.m. on 28 April 2006 at the offices of Halliwells LLP, St. James Court, Brown Street, Manchester M2 2JF.
The funds raised in the Placing will be used to:
- satisfy the general working capital requirements of the Group
- support the roll out of the network into other premium shopping malls
- continue to exploit opportunities in vertical markets such as transport and health
Commenting on the Placing, Dave Clark, Chief Executive of ScreenFX plc, said:
"This placing enables the Group to take the business to the next stage in its development by allowing ScreenFX to further rollout its network into shopping centres as well as enabling the Group to exploit opportunities in the transport and health sectors."
For further information:
| ScreenFX plc | |
| David Clark, Chief Executive | Tel: +44 (0) 161 428 5544 |
| info@screenfx.com |
Media enquiries:
| Abchurch | |
| Henry Harrison-Topham / Katherine Murphy | Tel: +44 (0) 20 7398 7700 |
| Katherine.murphy@abchurch-group.com | www.abchurch-group.com |