NAPS Napster Group Plc

 
TIDMIPNT 
 
11 January 2011 
 
                               iPoint Media Plc 
                       ("iPoint Media" or the "Company") 
 
                         Minimum Subscription Achieved 
 
Reclassification of Company 
 
Further to the announcement made by the Company on 14 December 2010, the board 
of iPoint Media is pleased to announce that the Minimum Subscription of GBP300,000 
(pursuant to the offer for subscription being carried out by the 
Company's subsidiary iPoint plc ("NewCo")) has been achieved. As a result, the 
resolutions, detailed in the circulars sent to shareholders and noteholders of 
iPoint Media on 26 November 2010 and passed on 14 December 2010, are now 
effective and the Company is henceforth reclassified as an investing company 
pursuant to AIM Rule 15. 
 
Under AIM Rule 15, the Company has until 14 December 2011, being 12 months from 
the date on which the resolutions were passed, to implement its investment 
policy, as detailed in the aforementioned circulars. Otherwise, trading in the 
Company's shares will be suspended at 7:30 a.m. on 15 December 2011. The 
Company would then remain provisionally suspended for six months, following 
which, if it remains the case that the Company fails to undertake a reverse 
takeover or otherwise implement its investing policy, it would be proposed to 
cancel the Company's shares with effect from 7:00 a.m. on 18 June 2012. 
 
 
Resignation of Directors 
 
The Company announces that, due to the aforementioned resolutions becoming 
effective, Shmuel Geller and Efraim Bazia have resigned from the board with 
immediate effect. Simon Marks and Robert Hayim remain on the board. 
 
 
Enquiries: 
 
iPoint Media Plc                        +972 3606 1600 
Simon Marks 
 
Cairn Financial Advisers LLP            +44 (0) 20 7148 7900 
Liam Murray / Avi Robinson 
 
 
 
END 
 

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