Funding Update

 

TIDMASG 
 
RNS Number : 7390Z 
ASG Media PLC 
28 September 2009 
 

28 September 2009 
 
 
ASG Media plc 
("ASG" or the "Company") (AIM: ASG.L) 
 
 
Funding update 
 
 
 
 
ASG, the leading digital out of home specialist, announces today that Neo Media 
Group SA ("Neo Media") has committed a further GBP20,000 to ASG through 
subscription for further Convertible Loan Notes (the "Neo Media Subscription") 
which, when converted at the 1p per share conversion price, will require the 
issue of a further 2.0 million new ordinary shares. 
 
 
Following the Neo Media Subscription, Neo Media will hold 47,636,363 ordinary 
shares, representing 29.4 per cent of the issued share capital, and convertible 
loans which upon full conversion will require the issue of a further 143,500,000 
new ordinary shares. Upon full conversion of their convertible loan notes Neo 
Media will own up to a maximum of 62.6 per cent of the Company's enlarged issued 
share capital.  The Directors, with the exception of Christian Vaglio-Giors who 
is also a director of Neo Media, consider, having consulted with its nominated 
adviser Charles Stanley Securities, that the terms of the Neo Media Subscription 
are fair and reasonable insofar as its shareholders are concerned. 
 
 
On the 4 June the Company announced that it was undertaking a further 
fundraising of approximately GBP2.5m. While discussions continue with a number 
of potential investors to secure the funding required to meet the Company's long 
term cashflow commitments, the Company also continues to seek urgent further 
short term funding for its immediate working capital requirements and to support 
recent new contract wins. 
 
 
At the same time the Company is also finalising the terms of a number of further 
significant new contracts, details of which are expected to be announced 
shortly. 
 
 
- ENDS - 
 
 
Enquiries: 
 
 
+-----------------------------------------------------+-------------------------+ 
| ASG Media plc                                       | 020 7902 2345           | 
| Jamie Ball, Managing Director                       |                         | 
| Gary Truman, CFO                                    |                         | 
|                                                     |                         | 
+-----------------------------------------------------+-------------------------+ 
| 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 
   END 
 
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