Cheerful Scout PLC
05 April 2005
Cheerful Scout Plc: Ticker: CLS / Index: AIM / Sector: Media
Cheerful Scout plc
('Cheerful Scout' or 'the Company')
Issue of Equity
Cheerful Scout, the AIM listed multi media group is pleased to announce that it
has raised £525,000 before expenses through the placing of 50,000,000 new
ordinary shares of 0.5p each at 1.05p per share. The funds raised will be used
to fund sales and marketing of the Company's new product, nVision Presenter and
to further develop its nVision Strategy product.
Cheerful Scout Chairman Stuart Appleton said: 'We have raised the new funds as
we feel we have a great opportunity with our new products and want to truly
capitalise on their market potential. The first product is a new high-end
presentation tool, nVision Presenter. The system delivers real-time 3D graphics
and provides an impressive widescreen platform that brings together all manner
of visual media on one highly impressive 'virtual stage'. Unlike other product
in the market, it has the power to render graphics in real-time and thus allows
for all kinds of hitherto almost impossible interactive opportunities. Initial
feedback has all been extremely positive. As stated in our last announcement we
hope to launch a second nVision product later this year that takes the
technology to another level and into a different market sector.'
Application has been made for the admission of 50,000,000 new ordinary shares to
trading on the AIM market. The new ordinary shares will rank pari passu with the
existing ordinary shares of the Company and dealings in the new ordinary shares
are expected to commence on 8 April 2005.
ENQUIRIES:
Gary Fitzpatrick Cheerful Scout Tel: 020 7291 0444
Isabel Crossley St Brides Media Tel: 020 7242 4477
Notes:
Cheerful operates its business in three core areas: production of DVD's for the
retail sector, where it has delivered more than 300 DVD projects to date
including high profile series such as Bad Girls, Footballers Wives and Spooks;
corporate communications, producing programmes for blue-chip clients including
Allen & Overy; and its new products under the nVision technology brand.
This information is provided by RNS
The company news service from the London Stock Exchange
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