23 October 2009
iPoint-media plc
("iPoint" or the "Company")
Further re: Open Offer and Subscription Offer
Application for admission to trading on AIM and extension of final closing date
of Subscription Offer
On 7 October 2009 iPoint announced that at the closing date of the Open Offer
at 3 p.m. on 2 October 2009 the Company had received valid applications from
existing Shareholders for an aggregate of £258,312.20. Defined terms used in
the announcement on 26 August 2009 shall have the same meanings in this
announcement.
The valid applications under the Open Offer comprised 18,191 Offer Units,
comprising £210,469.87 of Loan Notes, 1,055,078 Offer Shares and 2,255,684
Bonus Shares. It is a term of the Open Offer that the Bonus Shares will not be
capable of being sold, transferred or pledged to any third party for a period
of one year from issue in respect of all the Bonus Shares subscribed under the
Open Offer and for a period of a further year in respect of 50 per cent. of the
Bonus Shares subscribed under the Open Offer.
Furthermore, the Company announced that it had been informed by CSS Partners
LLP ("CSS"), as Placing Agent to the Subscription Offer, that CSS had by close
of business on 2 October 2009 received commitments under the Subscription Offer
of in excess of £750,000.
The Open Offer and the Subscription Offer are conditional upon, inter alia, the
aggregate subscription being in excess of £1 million.
iPoint is now pleased to announce that as at 12 noon on 23 October 2009, it had
received valid applications in respect of 129.25 Units under the Subscription
Offer, amounting to £811,690 in total, comprising £661,760 of Loan Notes,
3,308,800 Placing Shares and 7,031,200 Bonus Shares. It is a term of the
Subscription Offer that the Bonus Shares will not be capable of being sold,
transferred or pledged to any third party for a period of one year from issue
in respect of all the Bonus Shares subscribed under the Subscription Offer and
for a period of a further year in respect of 50 per cent. of the Bonus Shares
subscribed under the Subscription Offer.
Accordingly, the aggregate subscription under the Open Offer and the
Subscription Offer is £1,070,002.20 and the Open Offer and the Subscription
Offer are solely conditional upon admission of the Ordinary Shares comprised in
the Units applied for under the Open Offer and the Subscription Offer being
admitted to trading on AIM.
iPoint also announces that the final closing date for the Subscription Offer
will be extended to remain open until it is subscribed in full or 15 November
2009, whichever occurs earlier. A further announcement in respect of any
further valid applications under the Subscription Offer will be made in due
course.
In addition, pursuant to the engagement letter with Charles Street Securities
Europe LLP dated 11 June 2009, the Company has allotted 2,348,819 Bonus Shares
to CSS Capital Managers LLP. These Bonus Shares will not be capable of being
sold, transferred or pledged to any third party for a period of one year from
issue and for a period of a further year in respect of 50 per cent. of these
Bonus Shares.
Application has been made for 15,999,581 Ordinary Shares to be admitted to
trading on AIM and dealings are expected to commence on 26 October 2009.
Further enquiries:
iPoint-media plc
Muki Geller +972 (0) 544 450 667
Merchant John East Securities Limited
David Worlidge +44 (0) 207 628 2200
Bidhi Bhoma
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