Vision Media Group International | News
23 January 2008 Acquisition of Screen Media Networks Limited
ScreenFX plc (AIM:SFX), the digital advertising and communications specialist, today announces that it has completed the acquisition of Screen Media Networks Limited ("SMN"), an outdoor media contractor that combines both traditional and digital media services.
The acquisition of SMN has been completed for an initial consideration of 12,625,559 new Ordinary Shares, or 29.9 per cent of the Enlarged Group's Ordinary Share Capital. These new Ordinary Shares will be admitted to trading on AIM on 28 January 2007. Up to 16,974,833 new Ordinary Shares may be allotted depending on future funding being secured.
The Enlarged Group will then and thereafter trade under its new name, Vision Media Group (International) plc ("VMG"), with the market EPIC of VMG.
As a result of the acquisition, Dominic Brookman will join the Board of VMG as Chief Executive Officer.
Dominic Brookman will initially be beneficially interested in 8,572,409 Ordinary Shares as a result of the acquisition, which will represent approximately 20.3 per cent of the enlarged Group's issued share capital.
Pursuant to Rule 17 of the AIM Rules, the information required to be given in respect of Dominic Brookman is as follows:
Full name: Dominic Justin Brookman
Age: 38
Current Directorships:
Posad Limited
Screen Media Networks Limited 2006
Past Directorships held in the past five years:
Theme Park Media
Business First Luxury Transportation
Freestyle Business Holdings Ltd.
Retail TV Ltd.
Football Media Limited
Dominic Brookman is a director of Posad ltd which went into creditors voluntary arrangement in 2005 due to debts of approximately £200,000. Dominic has personally funded the CVA since then.
Under Schedule Two, paragraph (g), of the AIM Rules, there is nothing further to disclose.
For further information:
| ScreenFX plc | |
| Mike Cottman, Executive Chairman | Tel: +44 (0) 161 428 5544 |
| mikec@screenfx.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 7700 |
| henry.ht@abchurch-group.com | www.abchurch-group.com |