In the announcement issued on 17 February 2010 under reference number
PRNUK-1702101309-31A5 there was a typographical error. The number of Placing
Shares that the Company intends to allot is 1,881,173 and not 1,811,173 as
included in the fourth paragraph of that announcement.
17 February 2010
iPoint-media plc
("iPoint" or the "Company")
Further re: Subscription Offer
Full subscription of Subscription Offer and application for admission to
trading on AIM
iPoint announces that it has received applications under the Open Offer and the
Subscription Offer amounting to £1,727,000, the maximum aggregate amount that
could be raised under the Open Offer and the Subscription Offer.
On 13 November 2009 iPoint announced that at 12 noon on that date the Company
had received aggregate subscriptions under the Open Offer and the Subscription
Offer amounting to £1,090,412.20.
As at 5pm on 15 February 2010, the final closing date of the Subscription
Offer, since 12 noon on 13 November 2009, it has received additional valid
applications in respect of 101.3675 Units under the Subscription Offer,
amounting to £636,587.80 in total, comprising £519,001.51 of Loan Notes,
2,595,007 Placing Shares and 5,514,390 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.
Of the additional applications amounting to £636,587.80, £461,475.33 has been
received as cleared funds and the remainder is awaiting clearance. The Company
therefore intends, conditional on admission to trading on AIM, to allot
1,881,173 Placing Shares and 3,997,493 Bonus Shares and issue £376,234.66 of
Loan Notes in respect of the applications for which cleared funds have been
received. Application has been made for 5,878,666 Ordinary Shares to be
admitted to trading on AIM and dealings are expected to commence on 23 February
2010.
Defined terms used in the announcement on 26 August 2009 shall have the same
meanings in this announcement.
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
END
