Information  X 
Enter a valid email address

Works Media Grp(The) (WKS)

  Print      Mail a friend       Annual reports

Tuesday 30 October, 2007

Works Media Grp(The)

Issue of Equity

Works Media Group (The) PLC
30 October 2007

                           THE WORKS MEDIA GROUP PLC

                         ('The Works' or the 'Company')

                                ISSUE OF EQUITY

The Works Media Group plc is pleased to announce the investment of £763,097 in
the equity of the Company by Milcoz Films Limited ('Milcoz'), a company which
produces and finances feature films.   Mr. Costa Theo, a non-executive director
of The Works, is also Milcoz's Chief Executive.  The funds raised by this trade
investment will be used to develop The Works' UK Distribution and International
Sales divisions, allowing the Company to invest further in the acquisition of
film rights and to increase sales volumes.

Milcoz has invested £763,097 in new 0.1p ordinary shares of the Company at a
price of 3p per share.  The investment equates to 25,436,562 new ordinary
shares, representing approximately 17.24% of The Works' enlarged issued share
capital.  Prior to the issue of these new ordinary shares, Milcoz was interested
in 18,666,667 ordinary shares in the Company, so as a result of this placing it
is now interested in 44,103,229 ordinary shares representing 29.90% of the
Company's issued share capital.

Application will be made to the London Stock Exchange for the admission of the
new ordinary shares to trading on AIM.   It is expected that dealings in the new
ordinary shares will commence on 2 November 2007.  Following the issue of the
new ordinary shares, the Company will have 147,502,437 ordinary shares in issue.

Costa Theo, Chief Executive, Milcoz, said, 'Following our initial investment in
the Works in May of this year, we are delighted to have the opportunity to
increase our investment in the Company.  We believe The Works has an excellent
business model designed to fully leverage its growing library of film content
and a highly experienced management.  An important part of their continued
success is to ensure the Company has the ability to acquire more rights to fuel
further long term growth.  This investment will strengthen the Company and as a
shareholder in The Works, we look forward to sharing in its continued long term

For further information, please contact:

Works Media Group plc                                 Tel: 0207 612 0030
Norman Humphrey, Chief Executive Officer

City Financial Associates Limited                     Tel: 0207 492 4777
James Caithie

ICIS                                                  Tel: 020 7651 8688
Tom Moriarty, Caroline Evans-Jones

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                    

a d v e r t i s e m e n t