(ASG.L) ASG Media PLC Buy/Sell

RNS Number : 6092B ASG Media PLC 29 October 2009

29 October 2009

ASG Media plc

("ASG" or the "Company")

Funding update

The Board of ASG Media plc confirms that the Company has restructured £196,213 of existing short term liabilities payable to Harris Liontas into a convertible loan.

The new convertible loan carries an annual interest rate of 10 per cent. and is due to be repaid or converted in 12 months. The new convertible loan is convertible at a price of 1p per new ordinary share which, if fully converted, will require the issue of up to 19,621,300 million new ordinary shares representing 10.8% of the enlarged issued share capital.

Meanwhile the Company continues to seek further urgent funding to meet the Company's immediate working capital requirement and longer term development plans. The Company intends to update Shareholders imminently with further information with regards the outcome of the continued funding discussions.

Enquiries:

ASG Media plc 020 7902 2345

Jamie Ball, Managing Director Gary Truman, Finance Director

Charles Stanley Securities 020 7149 6000

Nominated Adviser Russell Cook / Freddy Crossley

This information is provided by RNS The company news service from the London Stock Exchange

MSCZGMZGDLFGLZM