Result of General Meeting

RNS Number : 0704F

Bango PLC

05 January 2010

 



5 January 2010

BANGO PLC

("Bango" or the "Company")

Result of General Meeting - Placing Completes

Exercise of Options

Bango plc (AIM:BGO), the mobile web payments and analytics company, is pleased to announce that at the General Meeting held earlier today all of the Resolutions to approve the Placing were duly passed by shareholders and the Placing Shares have been allotted by the Company. Dealings are expected to commence in the First Placing Shares on AIM on 6 January 2010 and in the Second Placing Shares on AIM on 7 January 2010.

Following Admission of the Placing Shares, as a result of the increase in the number of shares in issue and the participation of Ray Anderson and Lindsay Bury in the Placing, the interests of the Directors will be as follows:

	No of shares	%
Lindsay Bury	1,158,920	3.23
Ray Anderson	6,624,036	18.46
Anil Malhotra	4,027,000	11.22
Peter Saxton	225,000	0.63
Martin Rigby	20,754	0.06

Ray Anderson, Chief Executive Officer of Bango, commented, 

"We are delighted with the high level of support shown for Bango from investors, illustrating their long term confidence in our business and our ability to create value for our shareholders. With our ability to facilitate commerce on the mobile internet, we believe we are well positioned to benefit from the expected growth in this market in the year ahead and look to the future with confidence." 

In addition, the Company announces that 2,640 new ordinary shares in the Company have been issued and allotted following an exercise of employee options.

Application has been made to the London Stock Exchange for the Option Shares, which will rank pari passu with the existing shares in issue, to be admitted to trading on AIM, and admission is expected to become effective on 7 January 2010.

Following Admission of the Placing Shares and the Option Shares, the Company's enlarged issued share capital will comprise 35,880,746 ordinary shares with voting rights. The Company does not currently hold any shares in treasury. This figure of 35,880,746 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules. 

Contact Details:

Bango plc	ICIS	Cenkos Securities plc
Tel.    [phone]	Tel.    [phone]	Tel.     [phone]
Ray Anderson, CEO	Caroline Evans-Jones	Ken Fleming
Peter Saxton, CFO	Fiona Conroy	Jon Fitzpatrick

About Bango 

Bango (AIM: BGO) provides technology that enables commerce on the mobile web. 

Bango enables businesses of all sizes to collect payment for music, games, applications, videos and services sold to internet connected mobile phone users. Bango is able to charge payments to mobile phone bills or use other billing methods such as credit card based on intelligence about the consumer. Bango also provides an analytics service that provides accurate information about visitors and the effectiveness of marketing activities for mobile web sites.

Visit www.bango.com.

Definitions

"Admission"	where the context requires First Admission and/or Second Admission
"First Admission"	means the admission of the First Placing Shares to trading on AIM becoming effective in accordance with the AIM Rules
"First Placing"	the conditional placing by Cenkos Securities plc of the First Placing Shares
"First Placing Shares"	means the 1,800,000 new ordinary shares allotted and issued by the Company pursuant to the First Placing
"General Meeting"	the general meeting of the Company held at 10 a.m. on 5 January 2010
"Option Shares"	The 2,640 new ordinary shares allotted and issued following the exercise of employee options
"Placing"	together the First Placing and Second Placing
"Placing Shares"	means the 7,488,372 new ordinary shares allotted and issued by the Company, being the First Placing Shares and Second Placing Shares
"Resolutions"	the resolutions proposed at the General Meeting
"Second Admission"	the admission of the Second Placing Shares to trading on AIM becoming effective in accordance with the AIM Rules
"Second Placing"	the conditional placing by Cenkos of the Second Placing Shares
"Second Placing Shares"	means the 5,688,372 new ordinary shares allotted and issued by the Company pursuant to the Second Placing

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