On-Line PLC
3 March 2000
On - line PLC ('Company')/ADVFN.COM PLC ('ADVFN')
The Directors of On-line PLC, following the announcement made
on 27 January 2000, have noted the increased activity in the
shares of the Company following the publication of the required
10 day notice foreshadowing the intended admission to the
Alternative Investment Market ('AIM') of ADVFN.COM PLC.
ADVFN is currently a subsidiary of the Company. ADVFN is an
acronym for Advanced Financial Network and provides a
combination of free and premium services which, inter alia,
include:
Real-time or delayed share information direct from the London
Stock Exchange
Comprehensive fundamental data on UK companies from Hemmington
Scott Limited
Regulatory News Service
Portfolios
Charts
Fast quotes - real time prices on individual shares
In addition, ADVFN has developed a technology called 2C which
will be available through the www.advfn.com website and through
Quote.com for use with UK and US stock prices. 2C, which can be
seen at www.2c2c.com, is a three dimensional data visualisation
tool allowing the user to analyse graphically stock data, to
compare stocks using numerous variables and to spot trends
within large groups of stocks.
On-line PLC is primarily a computer games company and the
Directors believe that computer games and the financial products
of ADVFN do not have synergy. The directors are of the opinion
that enhanced shareholder value can be achieved by the public
flotation of ADVFN whilst, at the same time, allowing ADVFN
access to additional funds to finance its future development.
Accordingly, ADVFN proposes to raise £4 million, before
expenses, by way of a placing of 40,000, 000 new ordinary
shares of 1p, fully paid, at 10p per share. The proposed
placing will be underwritten by Insinger Townsley, a subsidiary
of Bank Insinger de Beaufort N.V.
The Directors of the Company hope to be in a position to send
full details of the proposals, outlined above, to shareholders
in the near future. In the meantime shareholders are advised
not to take any action until they have had an opportunity of
considering the proposals in detail.
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