Hyper Entertainment PLC

Result of GM, Issue of Shares & Changes to ...


31st December 2009

                            HYPER ENTERTAINMENT PLC                            
                          ("Hyper" or "the Company")                           
    Result of General Meeting, Issue of Shares and Appointment of Directors    


The directors of Hyper are pleased to announce that at today's General Meeting,
all resolutions were passed.

The resolutions passed are summarized below:

Resolution 1: to increase the authorised share capital of the Company from £
              200,000 to £300,000 by the creation of 10,000,000 Ordinary Shares.

Resolution 2: giving the Directors the authority to allot Ordinary Shares up to
              a maximum amount of £200,000 for the purpose of the placing.

Resolution 3: approving the Disposal as a transaction comprising a fundamental
              change of business involving a related party, as is required by the PLUS Rules.

Resolution 4: approving the Disposal as a substantial property transaction with
              a Director, as required by section 190 of the Companies Act 2006.

Resolution 5: approving the appointment of Uday Nayak and Sebastian Moonjely as
              Directors.

Resolution 6: approving the Company's Investment Strategy.

Resolution 7: giving the Directors the authority to allot Ordinary Shares
              without having to make a pre-emptive offer of Ordinary Shares to the
              Shareholders.

Resolution 8: approving the change of name to "V2 Ventures Plc".


Disposal

Following the general meeting and the unanimous approval of majority
shareholders, the Company has disposed of certain assets for total
consideration of £85,000.

Investment Strategy

Hyper (name to be changed to V2 Ventures Plc) is now classified under the PLUS
Rules as an investment vehicle. The Company's investment strategy will be a
generalist one with no specific sector, national or regional focus. The
Directors intend to focus on individual investment and acquisition
opportunities rather than build a portfolio of investments.

Placing and Issue of Equity

The Board is also pleased to announce that it has secured an investment by Uday
Nayak of £31,204.51 for 3,120,451 ordinary shares at a price of 1p (par), which
will represent 29.9% of the enlarged issued capital of Hyper following the
Disposal.

In addition the Company has allotted to Michael Russell, and Matt Rothman,
140,000 Ordinary Shares each at a price of 2.5p in lieu of fees owned to them
by the Company. The Company has also issued to Rivington Street Corporate
Finance, 379,000 ordinary shares at 2.5p in lieu of fees owed.

Following the issue of the new shares, the Company will have a total of
10,436,291 shares in issue.

Changes to the Board

The following Directors will remain on the Board and assume the following
positions:-

Michael Swinney - Non Executive Director
Wendy Rosenthal - Non Executive Director

Matt Rothman and Michael Russell have resigned as directors of Hyper.

Following approval from shareholders, the following Directors have been
appointed to the Board:-

Uday Nayak - Executive Chairman
Sebastian Moonjely - Executive Director

Uday Nayak

Uday comes from a business family in India and has a wealth of knowledge in
dealing with companies in the Indian sub-continent.

He is co-founder and chairman of Veling Ltd, an aircraft leasing, remarketing
and asset management business founded in 2002, which through his vision has
been built into a leading independent aircraft lessor ranked 40 in the world.
He liaises regularly with the equity partners and banks to help build up
Veling's funding capability. Prior to that he worked for Credit Lyonnais in
London, specialising in corporate and structured finance products.

 
Uday's passion and interest in luxury watches led to setting up Dreamweaver
Luxury Ltd, which he intends to use as a base to develop Dreamweaver into a
business that owns or invests in niche luxury brands.

In addition to directorships of the Company, Uday Nayak holds or has held the
following directorships or has been a partner in the following partnerships
within the five years prior to the date of this Circular.

Current Directorships / Partnerships    Past Directorships                    
                                                                              
Veling Aviation (UK) Limited            n/a                                   
                                                                          
Airline Partners (UK) Limited                                                 
                                                                            
Dreamweaver Luxury Limited                                                    



Sebastian Moonjely

In September 2006 Sebastian joined Veling Aviation UK Ltd in the role of
General Manager. Prior to 2006, Sebastian worked for 24 years at Bank of India
- a commercial bank in India with operations across the globe (the "Bank").

Sebastian has a varied experience in banking, including operations, IT and
administration & management. He was on secondment to the Bank's London office
as IT Manager for its European branches and worked as Head of Planning in the
Bank's Mumbai North Zone.

At Veling, Sebastian plays a pivotal role in the structuring of commercially
viable aircraft sales and leasing transactions. He also handles administration,
logistics and project management which are key in the successful closure of
aircraft transactions. Sebastian Moonjely has not held any directorships during
the past five years.

Directors Holdings

Following these changes to the Board, the Directors will hold a total of
5,890,102 shares in the Company representing 56.43% of the issued share capital
of the Company.

The Directors of the issuer accept responsibility for this announcement.

                                   --ENDS--                                    

Enquiries:

HYPER ENTERTAINMENT PLC

Sebastian Moonjely           Tel: 020 8834 1066
Michael Swinney              Tel: 020 7262 5237

RIVINGTON STREET CORPORATE FINANCE

Eran Zucker
[email protected]
Tel: 020 7562 3373