ASG Asg Media

 

TIDMASG 
 
RNS Number : 6954J 
ASG Media PLC 
01 April 2010 
 

1st April 2010 
 
                                 ASG Media PLC 
                                (the "Company") 
 
                                Approval of CVA 
                                  Result of EGM 
           Issue of New Shares, Warrants and Convertible Loan Stock, 
                          Change of Registered Office 
                                 Change of Name 
 
At the Company's General Meeting ("GM") held earlier today all resolutions, as 
set out in the circular to shareholders dated 16 March 2010 (the "Circular"), 
were duly passed.  The Company also announces that it has in principal, secured 
further funding of up to GBP200,000 by way a further Convertible Unsecured Loan. 
 Further details of this proposal will be announced once terms have been 
finalised. 
 
The Company Voluntary Arrangement ("CVA") was also approved at a meeting of the 
Company's creditors held immediately prior to the GM. 
 
Following the passing of the Resolutions at the GM and the approval of the CVA 
by creditors the Company is proceeding with the capital reorganisation as set 
out in the Circular.  As a result existing shareholders will retain their shares 
on the basis of approximately 1 ordinary share for every 550 shares held prior 
to the capital reorganisation.  The Company has today issued, and application 
has been made, for 1,807,585 new ordinary GBP0.00001 shares (the "New Ordinary 
Shares") to be admitted to trading on AIM.  Admission is expected to be on or 
around 9 April 2010. 
 
The Board has also granted a total of 60,800,949 warrants and has issued 
GBP50,000.00 of convertible unsecured loan stock 2012 in accordance with the 
basis of the capital reorganisation set out in the Circular. 
 
Following the issue of the New Ordinary Shares the Company's total issued share 
capital will be 2,099,051 ordinary shares.  The Company anticipates that 
suspension from trading on AIM will be lifted on or around 9 April 2010. 
 
At the GM approval was also given for the change of the Company's name from ASG 
Media PLC to Insetco PLC.  A separate announcement will be made once this change 
has been recorded at Companies House and a change of name certificate issued. 
 
The Company also announces that with immediate effect the registered office will 
now be at: 
Finsgate 
5-7 Cranwood Street 
London 
EC1V 9EE 
 
In accordance with AIM Rule 26, the Company's website can now be found at 
www.insetco.co.uk. 
 
 
Enquiries 
 
+------------------------------------------+-------------------+ 
| ASG Media PLC                            |     020 7309 2280 | 
| Gary Truman                              |                   | 
|                                          |                   | 
+------------------------------------------+-------------------+ 
| Charles Stanley Securities               |     020 7149 6000 | 
| Nominated Adviser                        |                   | 
| Russell Cook / Dugald Carlean            |                   | 
+------------------------------------------+-------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 REGBLGDSCSGBGGB 
 

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