NewMedia SPARK PLC
18 December 2000
NEWMEDIA SPARK PLC ('SPARK')
APPLICATION FOR ADMISSION
Application has been made for admission to AIM of 181,337 new ordinary shares
of 2.5p each in SPARK ('SPARK Shares') issued in consideration for the
acquisition of 13,950 ordinary shares in NewMedia Heads Limited ('NM Heads').
Admission is expected to take place on 22 December 2000. The consideration for
the acquisition has been agreed at a value of £114,242, equivalent to a value
of £8.19 per NM Heads share.
NM Heads was incorporated on 3 November 1999, set up, inter alia, by NewMedia
Investors Limited ('NMI'), the SPARK founder shareholder. As part of SPARK's
acquisition of NMI in September 2000, SPARK assumed 6,975 of the ordinary
shares in Heads held by NMI. The acquisition of the further shares in NM Heads
will take SPARK's total interest in the share capital of NM Heads to 48.9 per
cent. In addition, SPARK has granted an option over 5 per cent. of NM Heads to
Andrew Carruthers, Chief Operating Officer of SPARK, who has also acquired a
further 5 per cent. of NM Heads, both transactions being at a value of £8.19
per NM Heads share.
Application has also been made today for 4,922,315 new SPARK Shares to be
admitted to AIM, pursuant to SPARK's undertaking to purchase the 17% remaining
minority shareholding in Cell Ventures AB ('Cell Ventures'). Cell Ventures was
acquired as part of the acquisition of Cell Internet Commerce Development AB
('Cell ICD') in March 2000. These new SPARK Shares rank pari passu with the
SPARK Shares now in issue. Admission is expected to take place and dealings to
commence on 22 December 2000.
18 December 2000
Enquiries:
Joel Plasco 020 7851 7703
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