14 August 2008
THREE'S A CROWD PLC
("Three's A Crowd" or "the Company")
BOARD RESTRUCTURING AND EXERCISE OF WARRANTS
Three's A Crowd is pleased to announce the appointment of Stewart
Morris as non-executive director. Stewart Morris is an accomplished
television executive and creative producer. Stewart has been involved
in the creation and production of some of Britain's most successful
television series including I'm A Celebrity, Get Me Out of Here and
Brainiac: Science Abuse.
Stewart delivered high-end television to the biggest networks in the
world including ITV and Channel 4 in the UK and NBC and Warner
Brothers in the United States.
Chief Executive Mark Emms said today-:
"Appointing Stewart Morris as non-executive director will provide
Three's A Crowd with a wealth of experience within the entertainment
and production sector to assist in the growth of the company."
In addition to directorships of the Company, Stewart Morris holds the
following directorships:
Current Directorships/ Partnerships Past Directorships/
Partnerships
Original Productions UK Entertainment None
LLP
Further to the new appointment, the Company announces the
resignations from the Board of Tara Palmer-Tomkinson (non-executive
director), Domino Duhan (executive director), Jessica Wells
(executive director) and Mark Watson-Mitchell (non-executive
chairman) as part of a restructuring to allow for future growth.
Mark Watson-Mitchell, who initially brought Three's A Crowd to
market, is stepping down, so he can concentrate on his other
opportunities.
Chief Executive Mark Emms said today-:
"Mark Watson-Mitchell has been a great supporter and advocate of
Three's A Crowd and given us a fantastic opportunity by taking us to
market. He provided important knowledge to the team on the
responsibilities and requirements surrounding running a public
company".
Tara has accepted an offer to present a major television series this
summer and as a result feels that she cannot do justice to her duties
as a director whilst pursuing career opportunities. Tara remains a
shareholder and currently both Tara and Three's a Crowd are in the
process of negotiating consultancy terms to secure her future
involvement with this growing business.
Chief Executive Mark Emms said today-:
"Tara has been fantastic in getting Three's A Crowd off the ground.
She opened a lot of doors for us and was a great asset in marketing
and promoting the Company during the early stages of development. We
look forward to continued involvement with Tara and we appreciate her
shareholding support."
Domino has been integral in developing and building the foundations
for the online platform www.3sacrowd.com. He will remain a technical
consultant during the Online business's next stage of growth.
Tara, Domino and Jessica will remain active with the company on
revised terms of service going forward.
The Company is also pleased to announce that following the exercise
of warrants at an exercise price of 1p, by Dowgate Captal
Stockbrokers Limited ("Dowgate"), the company has issued and allotted
7,500,000 new ordinary shares of 0.5p raising gross proceeds of
£75,000 for the Company.
Following the issue of the Shares, Dowgate holds 9,600,000 ordinary
shares, representing 12.3% of the enlarged share capital of the
Company. The shares are registered in the name of Pershing Nominees
Limited ('Pershing'). Dowgate is a subsidiary, of Aim listed Dowgate
Capital Plc.
Pershing hold, on behalf of Dowgate and others, 31,400,000 ordinary
shares or 40.22% of the issued share capital of the Company. Other
than Dowgate there are no other beneficial shareholdings that amount
to more than 3% of the issued share capital of the company in
Pershing.
Following the exercise and the restructuring of the board, the
Company is aware of the following interests of the Directors and
persons holding more than 3% of the enlarged share capital of the
Company:
NUMBER OF SHARES % OF ISSUED ORDINARY
SHARES
Pershing Nominees Limited 31,400,000 40.22%
Grriffin Two Limited 4,000,000 5.12%
Addworth Plc 8,150,000 10.44%
PLUS Investors ^ 4,000,000 5.12%
Jessica Wells 6,300,000 8.07%
Domino Duhan 2,400,000 3.07%
Mark Emms * 6,300,000 8.07%
Melissa Gilmour * 600,000 0.77%
* Director of Three's A Crowd
^ Melissa Gilmour is indirectly interested in the ordinary shares
held by Plus Investors Limited, of which she is both a director and
shareholder. Melissa Gilmour controls 8.33% of Plus Investors
Limited.
The Directors are interested in 6,900,000 ordinary shares which
represent 8.83% of the issued share capital of the company.
The new ordinary shares rank pro rata and pari passu with the
Company's existing ordinary shares.
The total number of ordinary shares in issue following the issue of
the Placing Shares is 78,064,500.
The Directors accept full responsibility for this statement.
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Three's A Crowd Plc
Mark Emms Tel: 020 7242 6151
[email protected]
Rivington Street Corporate Finance Tel: 020 7562 3389
Monisha Varadan Leo Godsall
[email protected] [email protected]
Dowgate Capital Stockbrokers Tel: 01293 517744
Neil Badger
Notes to Editors
Three's A Crowd plc (PLUS: TACP) is an event management and online
lifestyle
company which floated on the PLUS-quoted market in November 2007.
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