NAPS Napster Group Plc

 
TIDMIPNT 
 
This announcement replaces the announcement made earlier today at 12.54 pm 
under number 91253-DE3D. This is due to an administrative error which resulted 
in the omission of the final paragraph of the announcement. The relevant 
paragraph has now been included. 
 
                                                                21 January 2009 
 
                               iPoint-media plc 
 
                          ("iPoint" or the "Company") 
 
                       Issue of equity to raise GBP380,000 
 
The Company announces that it has raised GBP380,000, before expenses, through the 
issue of 7,600,000 ordinary shares ("Ordinary Shares") in the capital of iPoint 
at a price of 5p per share ("Subscription"), to its largest shareholder, Nisko 
Investments Ltd. (previously Nisko Projects Electronics & Communications (1990) 
Ltd.) ("Nisko") and other investors. 
 
Nisko has subscribed for 4,375,000 Ordinary Shares pursuant to the 
Subscription, resulting in it being interested in a total of 43,346,983 
Ordinary Shares, representing 35.61 per cent. of the enlarged issued share 
capital of the Company following the Subscription. 
 
The net proceeds of the Subscription will be used by the Company for general 
working capital purposes. 
 
In addition, the Company has also issued 608,000 Ordinary Shares to an adviser 
in satisfaction of fees due to it by the Company. As a result, an application 
has been made for a total of 8,208,000 Ordinary Shares to be admitted to 
trading on AIM and dealings are expected to commence on 27 January 2009. 
Following admission of the 8,208,000 new Ordinary Shares, the Company will have 
a total of 121,723,645 Ordinary Shares in issue. 
 
Given the size of Nisko's existing shareholding in the Company and the size of 
its investment pursuant to the Subscription, its participation in the 
Subscription is deemed to be a related party transaction under the AIM Rules. 
The directors of the Company, other than Efi Sagi, who is a director of Nisko, 
(the "Independent Directors") having consulted with John East & Partners 
Limited, consider the terms of the transactions to be fair and reasonable 
insofar as the shareholders of the Company are concerned. In advising the 
Independent Directors, John East & Partners Limited has relied upon their 
commercial assessment. 
 
For Further Information: 
 
iPoint-media plc                            +(0) 972 544 450 667 
 
Muki Geller 
 
John East & Partners Limited                +44 (0) 207 628 2200 
 
David Worlidge/Bidhi Bhoma 
 
 
 
END 
 

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