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TDM 3DM Worldwide

5.19
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
3DM Worldwide LSE:TDM London Ordinary Share GB0030949472 ORD 2.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 5.19 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Proposed equity placing

31/07/2007 4:19pm

UK Regulatory


RNS Number:2304B
3DM Worldwide PLC
31 July 2007


For immediate release: 31 July 2007


                               3DM Worldwide plc

                            ("3DM" or the "Company")


                            Proposed Equity Placing


Further to the "Notice of EGM" announcement dated 30 July 2007, the board of 3DM
is pleased to announce that the Company has entered into placing agreements with
a number of new and existing shareholders to raise #2,800,000.

Pursuant to these agreements the Company has agreed to issue a total of
57,377,049 new ordinary shares at a price of 4.88p ("the Placing Price") to
certain institutional and other investors.

These agreements are conditional upon approval by shareholders at an
Extraordinary General meeting ("EGM"), announced yesterday, of all the necessary
resolutions to enable the placing to proceed. The EGM is due to take place on 23
August 2007.

The funds raised will be used to repay the outstanding debt due to Cornell
Capital Partners Offshore LP ("Cornell") and to Montgomery Equity Partners LP
("Montgomery"). The remaining balance due to Cornell and Montgomery is
repayable, unless previously converted into equity by 29 December 2007. It is
the Company's intention that the amounts will be settled before that date but in
any event, subject to the necessary approvals being granted at the EGM, no
further conversions to equity by Cornell or Montgomery will occur and all of the
outstanding debt will have been paid off by 29 December 2007.


-ends -


Enquiries:

Company: Niall Mackay, C.E.O. Tel: 020 7692 7002

Evolution: Fergus Marcroft Tel: 020 7071 4300

Distributed by GTH Media Relations Tel: 020 7153 8035


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