MILESTONE GROUP PLC
"Milestone" or the "Company"
Issue of Equity & Total Voting Rights
AIM quoted Milestone Group PLC (AIM:MSG), the digital solutions and technology
agency, announces that it has agreed to issue 1,080,000 ordinary shares of 0.1
pence each in the capital of the Company ("Ordinary Share") at a price of 1.25
pence per Ordinary Share, raising £13,500.
Milestone has also agreed to issue 15,000,000 Ordinary Shares at 1.00 pence per
Ordinary Share to HBS 049 Limited ("HBS"), raising £150,000 (the "HBS
Subscription"). Â Post admission, HBS 049 Limited will hold 11.8 per cent. of the
enlarged issued share capital. Under the terms of the HBS Subscription, HBS
will have the right to appoint a non-executive director to the Board of the
Company. The HBS Subscription is in addition to the convertible loan of
£150,000 provided by HBS to the Company, pursuant to the loan agreement
announced on 31 March 2010.
Milestone also announces that it has agreed to issue 4,401,774 Ordinary Shares
at 1.25 pence per Ordinary Share to certain creditors in lieu of £55,022 payable
in respect of services provided to the Company.
The proceeds of the placing will be used to provide working capital and reduce
the company's liabilities which have increased slightly since the interim period
end. As set out in the Company's interim announcement on 8 June 2010, the
Company continues to actively manage its liabilities and further fundraisings
are likely to be required in the short term to enable the Company to meet its
liabilities and to provide additional working capital. The Company continues to
be reliant on its ability to manage the timing of settlement of its liabilities
and to raise further funds going forward in the short term.
Application will be made for, in aggregate, 20,481,774 new Ordinary Shares to be
admitted to trading on AIM, which is expected to occur on 11 August 2010. Â The
new Ordinary Shares, when fully paid and issued, will rank pari passu in all
respects with the existing Ordinary Shares of Milestone.
Following the issue, Milestone will have in issue 127,067,508 Ordinary Shares
with voting rights. Â The Company does not hold any Ordinary Shares in treasury.
 The figure of 127,067,508 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.
Following admission, Deborah White's unchanged holding will represent 6.91 per
cent of the Company's enlarged share capital.
FOR FURTHER INFORMATION:
Milestone Group PLC
Deborah White, Chief Executive Tel: 020 7929 7826
Strand Hanson Ltd
Richard Tulloch / David Altberg Tel: 020 7409 3494
Hybridan LLP
Claire Louise Noyce Tel: 020 7947 4350
[HUG#1434902]
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Source: Milestone Group PLC via Thomson Reuters ONE
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