Business
Trading update / Placing
Trading update / Placing.
About this update from Caledonian Holdings Plc.
[{"type":"text","content":"\n Deal Group Media PLC\n28 August 2007\n\n\nPress Release 28 August 2007\n\n\n Deal Group Media plc\n ('DGM' or 'the Group')\n\n Trading update and Placing\n\n\nDeal Group Media plc (AIM: DGM), an independent online marketing group, today\nreleases a trading update ahead of its Interims Results which are expected to be\nannounced in September 2007.\n\n\nOverseas trading in the current year has been encouraging, while the investment\nmade in the Asia Pacific business has started as planned. The Group is already\nseeing exciting opportunities for the provision of complete digital solutions to\nclients in Asia Pacific from its recently launched regional base in Singapore.\n\n\nTrading in the UK has been profitable, however below DGM's potential. Whilst\nthe Group is expecting to report a full year loss for the year ending 31\nDecember 2007, it expects that this will be reduced from the loss reported in\n2006. We are confident that the Group will return to profitability in 2008.\n\n\nDGM is also pleased to announce that it has raised £850,000 via a placing of\n34,000,000 new Ordinary Shares at 2.5 pence per share. The proceeds of the\nPlacing will be used to provide working capital and enable the Group to execute\nthe continued expansion strategy in the Group's Asia Pacific operations.\n\n\nAdrian Moss, CEO of DGM, said: 'We are delighted with the support demonstrated\nby new and existing shareholders and we are excited about building on the new\nstrategy outlined In the Preliminary Results in April 2007.'\n\n\nApplication has been made to the London Stock Exchange for the new Ordinary\nShares to be issued pursuant to the Placing to be admitted to trading on AIM \n('Admission'). It is expected that Admission will become effective and that\ndealings will commence at 8.00 a.m. on Monday, 3 September 2007 in respect of\nthe 32,000,000 Placing shares.\n\n\nThe new Ordinary Shares to be issued pursuant to the Placing will, when issued\nand fully paid, rank pari passu in all respects with the existing Ordinary\nShares of DGM and will be issued subject to the memorandum and articles of\nassociation of DGM.\n\n\n -Ends-\n\n\nFor further information, please contact:\n\nDeal Group Media plc\n\nAdrian Moss, CEO Tel:+44 (0) 20 7943 4220\n\n\nEvolution Securities Limited\n\nTom Price, Corporate Finance Tel: +44 (0) 20 7071 4300\n\nChris Clarke...