Newsplayer Group PLC
30 May 2000
NEWSPLAYER GROUP PLC: FURTHER DISCLOSURE
The prospectus published on 23 May 2000 in connection with the admission of
the ordinary shares of Newsplayer Group plc (the 'Company') to the Alternative
Investment Market of the London Stock Exchange ('AIM') did not contain the
following disclosure pursuant to Rule 16.8(e)(v) of the AIM Rules due to an
inadvertent error.
It was noted in the prospectus published on 23 May 2000 that Paul Duffen had
held the position of managing director of Frabo (UK) Limited (page 19). Paul
Duffen had disclosed that he was a director of Frabo (UK) Limited and that it
had gone into creditors' voluntary liquidation. A search was undertaken by the
Company's solicitors on Frabo (UK) Limited which confirmed that the company
had been dissolved rather than liquidated. Accordingly, on this basis, no
disclosure was required.
Since the publication of the prospectus on 23 May 2000, it has come to light
that Frabo (UK) Limited, the company which Paul Duffen referred to, had
changed its name to Italian Plumbing Limited prior to its liquidation and that
company had gone into creditors' voluntary liquidation in March 1995.
Italian Plumbing Limited was a joint venture between Paul Duffen and Frabo SPA
('Frabo'). The deficit to creditors was approximately £470,000 of which
£407,000 was owed to Frabo and £18,000 to Paul Duffen. The balance was owed to
a limited number of creditors, principally utility companies.
Dealings in the ordinary shares of the Company are expected to commence as
planned today.
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