Business
Completion of Acquisition
Completion of Acquisition.
About this update from Fiinu Plc
[{"type":"text","content":"\n Immedia Broadcasting plc\n08 May 2006\n\n Monday 8 May 2006\n\n\n\n Immedia Broadcasting PLC\n\n Completion of Acquisition of The Cube Group of Companies Limited\n\n Appointment of Executive Directors and Completion and Allotment of Shares\n\n\nImmedia Broadcasting PLC is pleased to announce completion of the acquisition of\nThe Cube Group of Companies Limited and the appointment of Fiona Ryder and Ross\nPenney as Executive Directors, as part of the acquisition.\n\n\nImmedia is also pleased to announce the issue and allotment of 1,632,653\nOrdinary Shares to the Vendors as part of the consideration.\n\n\nBruno Brookes, Chief Executive said:\n\n\n'We are delighted by the acquisition of Cube and the appointment of Ross and\nFiona to the Immedia Board. We believe Cube is a perfect fit for Immedia and we\nare very excited about entering a new phase in Immedia's development.'\n\n\nAfter having studied at Film and Photographic Arts at the University of\nWestminster, Fiona Ryder (39) set up her first company producing large screen\nadvertising and entertainment packages for the live music industry in 1994. In\n1999 she spotted a similar need in retail and set up Cube, with the specific\nintention of developing in-store television networks. Fiona has been CEO of\nCube ever since.\n\n\nHaving graduated from Cambridge University in 1986, Ross Penney (42) specialised\nin music copyright and operational and general management. He was Head of\nLicensing at Video Performance Limited, when he completed an MBA at Imperial\nCollege, London. He set up a music copyright and strategic consultancy,\nKhronos, in 1998 and in 2002 joined Cube. Ross is responsible for managing the\noperations of the company.\n\n\n\nAs a result of this share issue, Fiona Ryder will hold 717,120 shares\nrepresenting 5.34% of the issued share capital of the Company. Ross Penney will\nhold 246,599 shares representing 1.83% of the issued share capital of the\nCompany.\n\n\n\nDirectorships currently held:\n\n\n\nFiona Winifred Mary Ryder - Cube Music Limited and The Cube Group of Companies\nLimited. Samuel Ross Penney - Cube Music Limited, and The Cube Group of\nCompanies Limited.\n\n\n\nPrevious Directorships held in the past five years:\n\n\n\nFiona Ryder - Cubation Limited, Cube Sports Advertising Limited, and Cube TV\n Limited.\nRoss Penney - SM Engineering Limited.\n\...