Vision Media Group International | News
14 March 2008 £940,000 secured via successful fundraising
Vision Media Group (International) plc (AIM:VMG), the outdoor media contractor, announces that is has successfully raised £940,000 via a placing to existing institutional and other shareholders.
Further to the announcement of 13 March 2008, the Group has issued and allotted 9,412,963 new Ordinary Shares at a placing price of 10 pence per share, a premium of 48% on the closing price of VMG shares on 13 March 2008, raising approximately £940,000 (before expenses). These shares are expected to be admitted to trading on AIM on 17 March 2008.
Mike Cottman, Executive Chairman of VMG, said: "We are delighted to welcome this additional investment in Vision Media Group as the first stage of the current funding initiative as announced to the market on 6 December 2007. The extra funding will provide working capital and the basis from which we will be able to finance the enlargement of our screen network across our portfolio of shopping malls. This growth will enable us to best leverage the strength of our pivotal new and recently announced partnership with Clear Channel Outdoor UK."
Following this notification, the total number of shares in issue will stand at 69,175,785.
For further information:
| Vision Media Group (International) plc | |
| Dominic Brookman, CEO | Tel: +44 (0) 203 206 0001 |
| dominicb@visionmediagroupplc.com | www.visionmediagroupplc.com |
| Seymour Pierce Limited | |
| Stuart Lane / John Depasquale, Corporate Finance | Tel: +44 (0) 20 7107 8000 |
| stuartlane@seymourpierce.com | www.seymourpierce.com |
| Media enquiries: | |
| Abchurch | |
| Henry Harrison-Topham / Gareth Mead | Tel: +44 (0) 20 7398 7710 |
| gareth.mead@abchurch-group.com | www.abchurch-group.com |