Interregnum PLC
03 June 2005
3 June 2005
INTERREGNUM PLC
Portfolio Company Announces Postponement of AIM Flotation
Interregnum plc ('Interregnum'), the technology merchant bank, announces today
that following a significant deterioration in the market conditions for new
issues on the Alternative Investment Market (AIM) during recent weeks, its
portfolio company Red-M Group ('Red-M') has been advised to postpone its planned
admission to AIM by Bridgewell, Red-M's financial adviser. The admission had
been planned to take place during the first half of 2005.
Interregnum believes that Red-M remains very well placed to succeed in the
growing market for wireless security and management products and services. The
Red-M business proposition has been positively received by prospective investors
and the company had raised £1.6m of new debt and equity funding as part of the
preparation for its IPO. Red-M therefore intends now to seek a private equity
round of funding as the best way of addressing this market opportunity.
Interregnum owns approximately 45% of the issued share capital of Red-M prior to
further fund raising, with the other principal shareholders being funds managed
by Apax Partners, Amadeus Capital Partners and Red-M's management.
- Ends -
Further enquiries:
Interregnum 020 7494 3080
Roger Jeynes 07971 545417
Merlin (PR advisers to Interregnum) 020 7653 6620
Vanessa Maydon 07802 961 902
Rebecca Penney 07795 108178
Red-M
Karl Feilder, CEO 07770 301 490
Shirley Fairall 07979 954 807
Corfin Communications (PR Advisers to Red-M) 020 7929 8989
Harry Chathli 07843 660 220
Neil Thapar 07876 455 323
Notes to Editor
• Interregnum plc (www.interregnum.com) is a technology merchant bank
listed on London's Alternative Investment Market (symbol: ITR). Established
in 1992, Interregnum buys, sells, advises, invests in and operates
technology companies. Its advisory services include corporate finance, IP
exploitation and commercial due diligence. The company's clients are
principally corporates, government, technology entrepreneurs, advisors and
investors.
• Red-M Group Limited was formed by the merger of Interregnum Wireless
Holdings Limited, Cellular Design Services Limited and Red-M Communications
Limited. Red-M develops a suite of hardware and software security products
which continuously monitor and pro-actively protect networks against rogue
wireless activity in their airspace. Red-M also provides wireless
consultancy, design and implementation services which enable organizations
to achieve greater productivity and create business value. Red-M was
appointed a technology pioneer by the World Economic Forum for the third
consecutive year in 2004.
This information is provided by RNS
The company news service from the London Stock Exchange
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