Brainspark PLC
7 April 2000
Not for release, publication or distribution in, or into, the
United States, Canada, Australia or Japan
Brainspark plc
FIRST DAY OF TRADING IN BRAINSPARK ORDINARY SHARES ON THE
ALTERNATIVE INVESTMENT MARKET
Ordinary Shares in Brainspark, the incubator business focused on germinating
and developing Internet related businesses, began trading on the Alternative
Investment Market ('AIM') today.
Brainspark aims to provide a one-stop solution for start up and recently
formed Internet companies. As well as providing cash, Brainspark offers a
range of physical incubator services designed to encourage and protect growth
and provides daily access to the expertise of its management team and
substantial network of contacts.
Brainspark has been admitted to AIM following the successful completion of an
institutional placing of 16 million Ordinary Shares at 125p per share, raising
£18.4 million net. At the Placing Price, Brainspark is capitalised at £153.9
million.
Schroders is acting as Brainspark s nominated adviser and broker in connection
with its Admission.
Stewart Dodd, Chief Executive of Brainspark, said:
'This is an exciting day in our development. We look forward to the
challenges ahead, to meeting the expectations of our new shareholders and to
using the funds raised to invest in and develop those innovative concepts
which we believe can become successful commercial enterprises.
Enquiries:
Brainspark (0207 843 6600)
Stewart Dodd
David Hart
Schroders (0207 658 6000)
Phil Raper
Matthew Smith
Citigate Dewe Rogerson (0207 638 9571)
Martin Jackson
Charles Vivian
Definitions of terms used in this press release are provided in the Admission
Document published today. Copies of the Admission Document are available
until at least 14 days from today from Schroders, 120 Cheapside, London, EC2V
6DS or Gouldens, 10 Old Bailey, London EC4M 7NG.
This press release, for which Brainspark plc is alone responsible, has been
approved by J. Henry Schroder and Co. Limited ('Schroders') solely for the
purposes of section 57 of the Financial Services Act 1986. Schroders, which
is regulated in the UK by the Securities and Futures Authority Limited, is
acting only for Brainspark plc in connection with this transaction and no one
else and will not be responsible to anyone other than Brainspark plc for
providing the protections afforded to its customers nor for providing advice
in relation to the proposed transaction. This press release does not
constitute an offer of securities for sale into the United States. Shares of
Brainspark plc may not be offered or sold in or into the United States,
Canada, Australia or Japan.
Schroders, which is regulated by The Securities and Futures Authority
Limited, is acting as the Company s nominated adviser and nominated broker in
connection with the admission of the Ordinary Shares to trading on AIM. Its
responsibilities as the Company's nominated adviser and nominated broker
under the AIM Rules are owed solely to the London Stock Exchange and are not
owed to the Company or to any Director or to any other person in respect of
his decision to acquire shares in the Company in reliance on any part of this
document. No representation or warranty, express or implied, is made by
Schroders as to any of the contents of this document. Schroders will not be
offering advice and will not otherwise be responsible for providing customer
protections to recipients of this document in respect of any acquisitions of
shares in the Company.
NOTES TO EDITORS
Brainspark's Partner Companies
Further information on Brainspark is contained in the Admission Document and
on www.brainspark.com. To date, Brainspark has eight Partner Companies,
summarised below:
. Petspark (b2c): A European pet portal business focused on building an
online community of pet enthusiasts.
. EasyArt (b2b and b2c): EasyArt, is a one-stop Internet art shop catering
for the art print and framing needs of businesses and individuals.
. Fortune Cookie (b2b): A web design and development company, which
specialises in executing client design specifications and assisting clients
with the more commercial aspects of web development.
. Leisurehub (b2b): A portal site and market place for the leisure
industry, bringing buyers and sellers of all kinds of leisure related
products together.
. perfectday (b2c): A wedding portal site aimed at providing high quality
content on all aspects of the wedding process.
. Smile-on (b2b and b2c): A European dental community site providing high
quality content and commerce to both consumers and professionals on all
dental related issues.
. Hobomedia (b2b and b2c): An Internet based digital assistant that
provides information and services to the music, film and television
industries.
. Metapack (b2b): Provides one-stop supply chain solutions for e-tailers
and enables them to rapidly scale their on-line offerings while delivering
industry-leading customer service.
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