Business
Placing and Open Offer
Placing and Open Offer.
About this update from Catalyst Media Group Plc
[{"type":"text","content":"\n Catalyst Media Group PLC\n12 March 2007\n\n\nNot for release, publication or distribution in whole or in part in or into the\nUnited States, Canada, Japan, Australia, the Republic of Ireland or the Republic\n of South Africa\n\n CATALYST MEDIA GROUP PLC\n ('Catalyst' or 'the Company')\n\n Proposed placing of 801,236,844 Placing Shares at 0.5p per share\n Proposed open offer of 1,298,763,156 Open Offer Shares at 0.5p per share\n Notice of Extraordinary General Meeting\n\nCertain definitions apply throughout the following announcement and your\nattention is drawn to the table at the end of this announcement where these\ndefinitions are set out in full.\n\nHighlights\n\n • Placing and Open Offer to raise £10.5 million before expenses (£10\n million net of expenses).\n \n • All of the Placing Shares have been placed firm.\n \n • Of the 1,298,763,156 Open Offer Shares to be issued pursuant to the Open\n Offer, 617,488,975 Open Offer Shares are the subject of irrevocable\n undertakings from certain Qualifying Shareholders to take up entitlements.\n\n • The balance of 681,274,181 Open Offer Shares has been conditionally\n placed subject only to clawback to satisfy valid applications under the Open\n Offer.\n\n • The Company is also undertaking a Capital Reorganisation.\n\n • The Placing, Open Offer and Capital Reorganisation are subject to the\n approval of Shareholders to be sought at an EGM to be held on 4 April 2007.\n\n • Irrevocable undertakings to vote in favour of the Resolution have been\n received from certain institutional and other investors and the Directors in\n respect of 322,188,750 Existing Ordinary Shares, representing 45.1 per cent.\n of the Existing Ordinary Shares.\n\n • Application will be made to the London Stock Exchange for the New\n Ordinary Shares to be admitted to trading on AIM. Dealings are expected to\n commence in the New Ordinary Shares on 5 April 2007.\n\nEnquiries, please contact:\nCatalyst Media Group plc\nMichael Rosenberg\nTel: (020) 7927 6699\n\nStrand Partners\nJames Harris/Angela Peace\nTel: 020 7409 3494\n\nEvolution\nTom Price/Gina Gibson\nTel: 020 7071 4300\n\nThis summary should be read in conjunction with the full text of the following\nannouncement. An expected timetable of principal events is set out in Appendix\nI. Appendix II contains definitions of certain terms use...