Business
Proposed investment in Mediap
Proposed investment in Mediap.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n RNS Number : 7534C Brainspark PLC 19 November 2009 \n \n19 November 2009\n\nBrainspark plc\n(\"Brainspark or the \"Company\")\n\nProposed investment in Mediapolis Investments SA\n\n\nThe Board of Brainspark (AIM: BSP) is pleased to announce that it has agreed to invest €475,536 (£425,987) in Mediapolis Investments SA (\"Mediapolis Investments\") to acquire a 10.87 per cent. interest in that company. \n\nMediapolis Investments controls Mediapolis SpA, which is the owner of a site in northern Italy with plans for the development of a theme park. Brainspark is already a 0.47 per cent. shareholder in Mediapolis SpA. Further information on Mediapolis SpA and the development is given below.\n\nBrainspark has secured the rights to invest 47.6 per cent. of a €1,000,000 (£896,000) capital increase currently being undertaken by Mediapolis Investments, the Luxemburg holding company which controls 69.5 per cent of Mediapolis SpA.\n\nThe capital increase is priced at €10 (£8.96) per Mediapolis Investments share (the par value) and values Mediapolis Investments at €3,372,890 (£3,021,221) before the capital increase.\n\nThe proposed investment in Mediapolis will be satisfied through Brainspark raising additional funds through a proposed placing of new ordinary shares in the Company. On a fully diluted basis, the investment of €475,536 will result in Brainspark holding a 10.87 per cent. equity interest in Mediapolis Investments. \n\nAlfredo Villa, Non-Executive Director of Brainspark, is also a director and shareholder in Mediapolis Investments.\n\nMediapolis SpA, (www.gruppomediapolis.com) is an Italian real estate company with planning permission to develop an indoor (25,000 sq metres) and outdoor (148,000 sq metres) theme park with outdoor theatre (15,000 seats), shopping centre (36,000 sq metres), a 4 star hotel (342 rooms with 684 occupants) and a television production centre. The total area for the whole development is 60 hectares (148.2 acres). The site is located o...