Catalyst Media Group PLC
12 November 2004
12 November 2004
For immediate release
Catalyst Media Group plc
('Catalyst' or the 'Company')
Suspension of Shares pending proposed Reverse Takeover
Placing of new shares to raise £1,100,000
The Company announces that it is in advanced negotiations to acquire a 20 per
cent stake in Satellite Information Services Holdings Limited ('SIS') from
United Business Media ('SIS Acquisition'). The SIS Acquisition would constitute
a reverse takeover in accordance with the AIM Rules. Accordingly, the Company
announces the suspension of its ordinary share capital from trading on the
Alternative Investment Market of the London Stock Exchange for the time being.
The Company expects to complete the SIS Acquisition by the middle of December
2004 and will make further announcements as appropriate.
Catalyst also announces that it has placed 22,000,000 new ordinary shares of 1p
each ('Shares') at a price of 5p per share to raise a total of £1,100,000 before
expenses ('Placing'). 15,000,000 Shares have been subscribed for by Gartmore
Investment Management Limited ('Gartmore') and 7,000,000 Shares by private
clients of Williams de Broe Limited. Following the Placing, Gartmore will be
interested in 22,912,119 Shares representing 14.1 per cent of the Company's
enlarged issued share capital.
The net proceeds of the Placing will be used to provide working capital for the
Company.
For further information, please contact:
Paul Duffen, Chief Executive
Catalyst Media Group plc
+44 20 7927 6699
Merlin
+44 20 7653 6620
David Simonson
Rebecca Penney
This information is provided by RNS
The company news service from the London Stock Exchange
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