Vision Media Group International | News
22 December 2006 Result of EGM
The Board of ScreenFX plc (AIM:SFX), the digital advertising and communications specialist, announces that at its Extraordinary General Meeting held today in Manchester, the special resolutions proposed to shareholders (as set out in its notice to shareholders dated 27 November 2006) (“the Circular”) were duly passed.
On 27 November 2006, the Company announced that it was to raise to raise £1.5 million, before expenses, by means of the issue of a Loan Note to be subscribed for by one of the Company's shareholders. In addition, the Company also proposed to raise a further £3.8 million by the issue of further shares by way of a placing at 0.35 pence per share (the “Placing”). These Placing shares were placed by Seymour Pierce with institutional and other investors. In order to effect the Placing, a Capital Reorganisation needed to be undertaken and completed. The Loan Note, Placing and the Capital Reorganisation were conditional on, inter alia, Shareholder approval at an Extraordinary General Meeting. In addition, the authorities necessary for the allotment of the New Ordinary Shares pursuant to the Placing were to be sought at the EGM.
Following completion of the Placing and the Capital Reorganisation, the issued share capital of the Company will increase to 1,586,508,926 fully paid Ordinary Shares.
Application has been made to the London Stock Exchange for the 1,085,714,286 New Ordinary Shares to be admitted to AIM subject to the Placinig, which is expected to become effective at 8.00 a.m. on 28 December 2006.
For further information:
| ScreenFX plc | |
| David Clark, Chief Executive | Tel: +44 (0) 161 428 5544 |
| info@screenfx.com | www.screenfxplc.com |
| Seymour Pierce Limited | |
| Stuart Lane / John Depasquale, Corporate Finance | Tel: +44 (0) 20 7107 8000 |
| jdp@seymourpierce.com | www.seymourpierce.com |
Media enquiries:
| Abchurch | |
| Henry Harrison-Topham / Laura Riascos | Tel: +44 (0) 20 7398 7700 |
| henry.ht@abchurch-group.com | www.abchurch-group.com |
Seymour Pierce which is regulated by the Financial Services Authority is acting as nominated and financial adviser to the Company in connection with the matters described in this document. Persons receiving this document should note that Seymour Pierce will not be responsible to anyone other than the Company for providing the protections afforded to clients of Seymour Pierce or for advising any other person on the arrangements described in this document. Seymour Pierce has not authorised the contents of, or any part of, this document and no liability whatsoever is accepted by Seymour Pierce for the accuracy of any information or opinions contained in this document or for the omission of any information.
back to latest news back to top