Cellcast News
Loan Facility, Conversion to Equity and Placing
14 February 2007
Cellcast plc (AIM:CLTV), the global interactive digital broadcaster, announces that it has drawn down a further £200,000 of its £1million convertible loan facility with Headstart Funds ("Headstart") (the "Headstart Facility") in order to fund working capital.
Headstart has today issued a conversion notice in respect of the £225,000 convertible redeemable loan notes issued to them in respect of the £225,000 drawdown by the Company under the Headstart Facility on 26 January 2007. In the conversion notice Headstart has directed that the 3,571,428 shares issued pursuant to that notice (the "Conversion Shares") be issued and placed with an investor at 6.3p per share (who will subscribe a total of £225,000 for the Conversion Shares).
Application has been made to The London Stock Exchange for the Conversion Shares, which will rank pari passu with the existing shares in issue, to be admitted to AIM, and admission is expected to become effective on or around 20 February 2007.
Following this notification, the total number of shares in issue stands at 50,421,428.
For further information:
Cellcast plc |
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Andrew Wilson, CEO |
Tel: +44 (0) 20 7190 0300 |
HB Corporate |
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Edward Hutton |
Tel: +44 (0) 20 7510 8600 |
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Rachel Kane |
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Media Enquiries:
Abchurch |
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Henry Harrison-Topham / Gareth Mead |
Tel: +44 (0) 20 7398 7700 |
Notes to Editors:
Cellcast plc
Cellcast plc (AIM:CLTV) is a leading international provider of participation television applications and interactive mobile content in the fast-growing multi-platform digital entertainment sector. Headquartered in London, with associated operations in Paris, Beirut, Mumbai, Miami, Hong Kong and Buenos Aires, Cellcast’s applications and programming are distributed on the Sky Digital and Freeview platforms in the UK and broadcast partners include Canal+ in France; STB in Ukraine; Future TV, Dubai Television and Rotana TV in the Middle East; Zee TV in India; TVS-3 in China; TV3 in Malaysia; and Canal America in Argentina.
Cellcast’s revenues streams are independent of both advertising and subscription fees. With a network of revenue sharing agreements with telecommunications carriers and aggregators across five continents, Cellcast receives a share of the call revenue every time a consumer uses a mobile or fixed-line phone to participate in its interactive entertainment, revenue which is retained or shared with its broadcast partners. Cellcast’s programme formats and proprietary Interactive Platform (CIP) also facilitate delivery of content to mobile phones, the internet and broadband-delivered IPTV. This enables viewers to continue participating in a programme away from the TV, generating 24/7 revenue opportunities.
Cellcast plc joined the AIM market of the London Stock Exchange on 21 September 2005.