Issue of Equity
18 Novembre 2003 - 11:58AM
UK Regulatory
RNS Number:1844S
Virtue Broadcasting PLC
18 November 2003
Virtue Broadcasting PLC (the "Company")
18 November 2003
Issue of new ordinary shares
Virtue Broadcasting plc announces that the Board has, today, issued and allotted
a total of 27,500,000 new ordinary shares of 0.1 pence per share through a
placing at 4.0 pence per share, raising #1,100,000 before expenses.
Application has been made for the new shares to be admitted to AIM and trading
in the new shares is expected to commence on Monday 24 November 2003.
"We have decided to take advantage of the recent improvements in the share
price to strengthen the Company's balance sheet. The fact that the business can
attract this additional investment is a testament to our improving situation",
commented Mike Neville, Chairman. "Additionally, we are now seeing increasing
opportunities for vertical integration which will improve shareholder value."
For further information please contact:
James Ormondroyd, Finance Director
Tel: +44 (0) 20 7785 6000
This information is provided by RNS
The company news service from the London Stock Exchange
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