Immedia Broadcasting plc
08 May 2006
Monday 8 May 2006
Immedia Broadcasting PLC
Completion of Acquisition of The Cube Group of Companies Limited
Appointment of Executive Directors and Completion and Allotment of Shares
Immedia Broadcasting PLC is pleased to announce completion of the acquisition of
The Cube Group of Companies Limited and the appointment of Fiona Ryder and Ross
Penney as Executive Directors, as part of the acquisition.
Immedia is also pleased to announce the issue and allotment of 1,632,653
Ordinary Shares to the Vendors as part of the consideration.
Bruno Brookes, Chief Executive said:
'We are delighted by the acquisition of Cube and the appointment of Ross and
Fiona to the Immedia Board. We believe Cube is a perfect fit for Immedia and we
are very excited about entering a new phase in Immedia's development.'
After having studied at Film and Photographic Arts at the University of
Westminster, Fiona Ryder (39) set up her first company producing large screen
advertising and entertainment packages for the live music industry in 1994. In
1999 she spotted a similar need in retail and set up Cube, with the specific
intention of developing in-store television networks. Fiona has been CEO of
Cube ever since.
Having graduated from Cambridge University in 1986, Ross Penney (42) specialised
in music copyright and operational and general management. He was Head of
Licensing at Video Performance Limited, when he completed an MBA at Imperial
College, London. He set up a music copyright and strategic consultancy,
Khronos, in 1998 and in 2002 joined Cube. Ross is responsible for managing the
operations of the company.
As a result of this share issue, Fiona Ryder will hold 717,120 shares
representing 5.34% of the issued share capital of the Company. Ross Penney will
hold 246,599 shares representing 1.83% of the issued share capital of the
Company.
Directorships currently held:
Fiona Winifred Mary Ryder - Cube Music Limited and The Cube Group of Companies
Limited. Samuel Ross Penney - Cube Music Limited, and The Cube Group of
Companies Limited.
Previous Directorships held in the past five years:
Fiona Ryder - Cubation Limited, Cube Sports Advertising Limited, and Cube TV
Limited.
Ross Penney - SM Engineering Limited.
There is no further disclosure.
For further information please contact:
Immedia Broadcasting Plc
Bruno Brookes - Chief Executive 01635 572 800
Daniel Stewart & Company Plc
Marc Young / Chloe Ponsonby 020 7776 6550
Hudson Sandler
Nick Lyon / Amy Faulconbridge 020 7796 4133
This information is provided by RNS
The company news service from the London Stock Exchange