Issue of Equity

RNS Number : 7552J

TV Commerce Holdings PLC

09 December 2008

 



TV COMMERCE HOLDINGS PLC

ISSUE OF EQUITY

The Board of TV Commerce Holdings plc (the 'Company') announces it has raised £350,000 (before expenses) by the issue and allotment of 58,333,333 new ordinary shares at a price of 0.6p per share to Allianz Insurance PLC, conditional on these shares being admitted to trading on AIM.   The net proceeds will be used for general working capital purposes.

The 58,333,333 shares will represent approximately 4.4 per cent of the so enlarged issued share capital of the Company.

Application will be made for the shares, which will rank pari passu with existing ordinary shares, to be admitted to trading on the AIM market of the London Stock Exchange. It is expected that Admission will become effective and that dealings in the shares will commence on or around 15 December 2008.

Following admission, the issued share capital of the Company will be 1,322,512,965 ordinary shares of 0.02p each.

Enquiries:

David Hargreaves, CEO                    TV Commerce Holdings plc                       Tel:  [phone]

Aaron Smyth (NOMAD)                   Dowgate Capital Advisers Ltd                    Tel:  [phone]

Philip Dumas (Broker)                     Dowgate Capital Stockbrokers Ltd             Tel:  [phone]

Further information can be found on the Company's website, www.tvcommerce.co.uk.

 

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