Funding Update
29 Outubro 2009 - 12:29PM
UK Regulatory
TIDMASG
RNS Number : 6092B
ASG Media PLC
29 October 2009
29 October 2009
ASG Media plc
("ASG" or the "Company")
Funding update
The Board of ASG Media plc confirms that the Company has restructured GBP196,213
of existing short term liabilities payable to Harris Liontas into a convertible
loan.
The new convertible loan carries an annual interest rate of 10 per cent. and is
due to be repaid or converted in 12 months. The new convertible loan is
convertible at a price of 1p per new ordinary share which, if fully converted,
will require the issue of up to 19,621,300 million new ordinary shares
representing 10.8% of the enlarged issued share capital.
Meanwhile the Company continues to seek further urgent funding to meet the
Company's immediate working capital requirement and longer term development
plans. The Company intends to update Shareholders imminently with further
information with regards the outcome of the continued funding discussions.
Enquiries:
+-------------------------------------------+----------------------------+
| ASG Media plc | 020 7902 2345 |
| Jamie Ball, Managing Director | |
| Gary Truman, Finance Director | |
| | |
+-------------------------------------------+----------------------------+
| Charles Stanley Securities | 020 7149 6000 |
| Nominated Adviser | |
| Russell Cook / Freddy Crossley | |
| | |
+-------------------------------------------+----------------------------+
| | |
+-------------------------------------------+----------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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