Vision Media Group International | News
6th January 2005 ScreenFX - Successful EGM and pre-close trading update
Screen FX plc, which offers digital screen advertising in shopping centres across the UK, today confirms that the resolution providing the authority to issue new ordinary shares pursuant to the raising of £2 million (before expenses) through a placing by Seymour Pierce Limited of 26,666,668 new ordinary shares at a placing price of 7.5 pence per share has been duly approved by shareholders at today's EGM. The Company will use the monies raised to roll out its network across the UK.
At the EGM David Clark, Chief Executive Officer of Screen FX, gave the following update on trading:
"The Group is ahead of market revenue expectations for this, our first year of trading. In line with the strategy outlined at the time of our flotation last year, we now have a fully operational network of 125 screens, in eight shopping centres across the UK. With two more premier centres due to be installed in the first quarter of 2005, Braehead, Glasgow, and the St James Centre, Edinburgh's premier shopping centre, our screens will provide access to a national audience of approximately 200 million shoppers a year.
We also have firm commitments from major new advertisers such as Camelot for the National Lottery, 3's mobile services and Warner Bros to use our services. Together with the recently announced agreement with BT, we are well placed to sustain our leadership position in the fast growing "out of home" digital advertising market. We believe this market is well placed to provide an increasingly attractive mass market channel to advertisers, as it is outstripping other channels facing challenges from increased fragmentation. We look forward to 2005 with confidence.”
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 |