Issue of Shares

RNS Number : 7234W

Ten Alps PLC

03 August 2009

 



Press Release                                                                                                                           3 August 2009

Ten Alps plc

Issue of Shares

Ten Alps Plc (AIM:TAL) ('Ten Alps') the factual media company, has issued 775,610 ordinary shares of 2p each ('New Shares') as part of the deferred consideration for the acquisition of DBDA, a business providing corporate social responsibility factual content.

 As announced by Ten Alps on 18 June 2007, the acquisition of DBDA included deferred consideration based on the performance of DBDA over the subsequent 2.5 years.

Ten Alps is pleased to report that DBDA has performed significantly above the top tier of those initial expectations.  

DBDA management have chosen to take partial payment of the deferred consideration in Ten Alps equity, with the remainder settled in cash. 

Application has been made for the admission of the 775,610 New Shares to trading on AIM, which is expected to occur on 7 August 2009, and which will rank pari passu with existing ordinary shares in the Company.

Following admission to trading of the New Shares, Ten Alps will have an issued share capital of 64,689,686 Ordinary Shares of 2 pence each.

Ten Alps plc
Alex Connock, CEO	Tel: [phone]
c/o Moira McManus
www.tenalps.com
Grant Thornton, Nominated Adviser	Tel: [phone]
Fiona Owen / Robert Beenstock
Canaccord Adams, Broker
Mark Williams / Adria Da Breo Richards	Tel: [phone]
www.canaccordadams.com
Pelham Public Relations
Alex Walters / Francesca Tuckett	Tel: [phone]
www.pelhampr.com

 

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