NewMedia SPARK PLC
6 March 2000
NewMedia SPARK invests £500,000 in a UK Financial Portal,
ADVFM.com
NewMedia SPARK plc ('SPARK') confirms that it has invested
£500,000 for a stake of approximately 4% in ADVFM.com.
ADVFM.com is a UK finanancial portal which intends to use
advanced gaming technology developed by its parent company
On-Line plc ('On-Line') to enhance the viewing experience of
its users. On-Line announced on Friday that it intended to
seek an AIM listing for ADVFM in the near future at a
flotation price of 10p a share. SPARK's investment is at 5p
a share, and SPARK has agreed not to dispose of its shares
for a period of at least six months following its
investment.
Commenting on this investment Michael Whitaker, CEO of
SPARK, stated:
'We, together with our founder partners GlobalNet Financial,
are very interested in the potential application of software
techniques derived from the computer games market to
financial sites in order to enhance the viewer experience.
ADVFM will pioneer such developments and we are pleased to
have been able to secure an investment in the company for
SPARK on relatively advantageous terms.'
ADVFM is the 20th investment to be announced by SPARK since
its flotation on AIM on 28th October 1999. Earlier today
SPARK announced the £85m acquisition of Cell ICD ('Cell'),
Scandinavia's leading Internet incubator. The merger of
SPARK and Cell will create Europe's largest quoted Internet
investment and incubation company.
Michael Whitaker 0468 555944
NewMedia SPARK plc +20 7851 7777
Lisa Baderoon / Tim Anderson
Buchanan Communications +20 7466 5000
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