Totally PLC
4 April 2001
For Immediate Release
4th April, 2001
TOTALLY PLC ('Totally' or 'the Company')
Clarifying Statement
Further to the statement relating to the deferral of the Company's Annual
General Meeting ('AGM') released earlier today, the Company announces that the
placing described in the Notice of AGM dated 12th March, 2001, of 2,275,000
new Ordinary Shares at 11p per share, to raise £250,000 before expenses, can
not now proceed. The notice of the AGM sought specific authority for the
placing in order that it could be effected, in part, during the current tax
year, which was a condition of the placee. The deferral of the AGM means that
this condition can not be satisfied.
It is presently intended that additional working capital will be provided
following the reconvened AGM, by Dr Michael Sinclair, Chairman of the Company,
and Steve Burns, Chief Executive of the Company by way of up to £100,000
unsecured loan stock from each of them, the terms of which will be notified to
shareholders in due course.
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