7 Oct 2009 07:00
7 October 2009 iPoint-media plc ("iPoint" or the "Company") Further re: Open Offer and Subscription Offer Minimum Subscription of 1 million achieved
On 26 August 2009 iPoint-media announced that it was proposing to raise up to approximately 1.73 million (before expenses) by way of an Open Offer to the Company's existing Shareholders and a Subscription Offer to new investors. Defined terms used in the announcement on 26 August 2009 shall have the same meanings in this announcement.
The Company announces that at the closing date of the Open Offer at 3 p.m. on 2 October 2009 the Company had received valid applications from existing Shareholders for an aggregate of 258,312.20.
The above applications include an application by Nisko to subscribe for Offer Units to the value of 255,117.20, amounting to 14.8 per cent. of the Offer Units available under the Open Offer.
Furthermore, the Company announces that it has been informed by CSS Partners LLP ("CSS"), as Placing Agent to the Subscription Offer, that CSS had by close of business on 2 October 2009 received commitments under the Subscription Offer of in excess of 750,000.
The Open Offer and the Subscription Offer are conditional upon, inter alia, the aggregate subscription being in excess of 1 million. Subject to the receipt of all application monies by the Company's registrar, this condition has now been achieved. Application will be made for the appropriate number of new ordinary shares to be admitted to trading on AIM in due course.
The Open Offer is now closed but the Subscription Offer will remain open untilit is subscribed in full or 26 October 2009, whichever occurs earlier. Afurther announcement with respect to satisfaction of the remaining conditionswill be made shortly.Further enquiries:iPoint-media plc Muki Geller +(0) 972 544 450 667
John East & Partners Limited, a subsidiary of Merchant Securities PLC Bidhi Bhoma +44 (0) 207 628 2200
David Worlidge
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