Restoration of Listing (4209F)
15 Giugno 2012 - 8:00AM
UK Regulatory
TIDMIPNT
RNS Number : 4209F
iPoint-media PLC
15 June 2012
iPoint-media Plc
("iPoint" or the "Company")
Restoration of Listing
Placing of Loan Notes
Appointment of Broker
On 14 December 2010, iPoint announced that it had sold
substantially all of its assets and therefore had become an
investing company under AIM Rule 15. Consequently, the Company was
obliged to have made an acquisition that constituted a reverse
takeover or otherwise have substantially implemented its investing
policy within 12 months from that date.
iPoint has recently purchased for cash shares in certain quoted
technology companies and, following the completion of these
investments, the Company has now substantially implemented its
investing policy and has satisfied the requirements of Rule 15 of
the AIM Rules for Companies.
Against this background, the Company is pleased to announce that
restoration of trading on AIM in the Company's shares is scheduled
to occur at 07:30 today, Friday 15 June 2012.
Further Background
The Board is pleased to announce the appointment of Rivington
Street Corporate Finance Limited ("Rivington") as broker to the
Company.
Rivington has conditionally placed GBP250,000 of zero coupon
secured loan notes ("Loan Notes") which are convertible into new
ordinary shares in the Company (the "Placing"). The Placing is
conditional on the Company undertaking a capital reorganisation,
which is subject to shareholders' approval. It is intended that
conversion of all the Loan Notes will take place immediately
following the capital reorganization, and, the Loan Notes will
convert into shares equivalent to 81.2% of the enlarged, and fully
diluted, share capital of the Company.
A circular will be sent to shareholders shortly, providing
further information, inter-alia, on the Loan Notes, the share
capital reorganisation and the new investing strategy of the
Company, which are subject to the receipt of shareholder
approval.
For more information please contact:
Enquiries:
iPoint-media Plc +972 3606 1600
Simon Marks
Libertas Capital Corporate Finance Limited +44 (0)20 7569 9650
Sandy Jamieson
Rivington Street Corporate Finance +44 (0)20 7562 3350
Tom Stockton
Jon Levinson
This information is provided by RNS
The company news service from the London Stock Exchange
END
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