NS Number:8475B
NewMedia SPARK PLC
2 December 1999
NewMedia SPARK ('SPARK') invests £500,000
in residential property portal
SPARK announces that it has invested £500,000 as part of a
£3m private fund raising by easier! plc, which intends to
launch a new on-line residential property portal early next
year. easier! plc intends to seek a flotation during the
first half of next year, and SPARK's investment is in the
form of 'A' preference shares which will convert into
ordinary shares with a value of £1.75m at the listing price.
Commenting on the investment Michael Whitaker, CEO of SPARK,
stated:
'We are pleased to have been able to secure an investment in
this round of fund raising by easier! plc, which was heavily
over-subscribed. There are a large number of residential
property sites, but easier! has a unique revenue and
business model which has the potential to make a major
impact in the market. The founder management of the company
is also highly experienced, having previously held senior
positions at Misys, and we believe that easier! has the
potential to become the UK market leader in this area. Due
to the unique nature of the business model, further details
of the manner in which easier! intends to operate are
commercially confidential at this time.'
____________________________________________________________
For further information please contact:
NewMedia SPARK 0171 887 4510
Michael Whitaker 0468-555944
Buchannan Communications
Tim Anderson / Lisa Baderoon 0171-466-5000
Peel Hunt & Company
David Davies 0171-418-8900
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.