Cellcast News
Loan Facility, Conversion to Equity and Placing
20 April 2007
Cellcast plc (AIM:CLTV), the global interactive digital broadcaster, announces that it has drawn down the remaining £602,000 of its £1 million convertible loan facility with Headstart Funds ("Headstart") (the "Headstart Facility").
Headstart has today issued two conversion notices in respect of:
- the £200,000 convertible redeemable loan notes issued to it in respect of the £173,000 drawdown by the Company under the Headstart Facility on 20 February 2007 and the remaining £27,000 of the £225,000 drawdown by the Company under the Headstart Facility on 19 January 2007; and
- the £602,000 convertible redeemable loan notes issued to it in respect of the £602,000 drawdown by the Company under the Headstart Facility on 20 April 2007.
In the conversion notices, Headstart has directed that the 10,025,000 shares issued pursuant to the notices (the "Conversion Shares") be issued and placed with investors at 8p per share.
Furthermore, the Board has issued 1,954,127 shares to HB Corporate in lieu of fees at 8p per share.
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 26 April 2007.
Following this notification, the total number of shares in issue stands at 61,967,574.
For further information:
| Cellcast plc |
|
Andrew Wilson, CEO |
Tel: +44 (0) 20 7190 0300 |
| HB Corporate | |
| Edward Hutton / Rachel Kane | Tel: +44 (0) 20 7510 8600 |
| e.hutton@hbcorporate.co.uk | www.hbcorporate.co.uk |
| Media enquiries: | |
| Abchurch | |
| Gareth Mead / Joanne Shears | Tel: +44 (0) 20 7398 7700 |
| gareth.mead@abchurch-group.com | www.abchurch-group.com |
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 Sao Paolo, Cellcast's applications and programming are distributed on the Sky Digital and Freeview platforms in the UK and broadcast partners include Canal+ in France; Future TV, Dubai Television and Rotana TV in the Middle East; Zee TV, STAR TV and Sahara TV in India; TVS-3 in China; TV3 in Malaysia; and Rede TV, TV Gazetta and TV Banderantes in Brazil.
Cellcast plc joined the AIM market of the London Stock Exchange in 2005.