Loan Conversion

    RNS Number : 8726D
  Zyzygy PLC
  19 September 2008
   

    Zyzygy plc ("Zyzygy" or the "Company")
    Loan conversion
    The directors of Zyzygy today announce that they have issued a total of 62,500,000 Ordinary Shares of 0.1p each ("Ordinary Shares") at a
price of 0.12p per share. 

    The shares have been issued to Jemima Hoskins in settlement of monies owed to her by the Company. As a result of the issue of these
shares, Zyzygy will have 1,054,158,658 Ordinary Shares in issue with voting rights. The Company holds no shares in treasury. Mrs Hoskins'
holding of 62,500,000 shares represents 5.9 per cent. of the Company's total voting rights

    Application has been made for the shares to be admitted to trading on AIM with admission expected to take place on 24 September 2008. 

    By virtue of the size of the placing and because of Mrs Hoskins' connection with Billam AG, which is a substantial shareholder in the
Company, this placing falls to be disclosed as a related party transaction under Rule 13 of the AIM Rules for Companies. The Zyzygy
directors, having consulted with the Company's nominated adviser, consider that the terms of the transaction are fair and reasonable insofar
as its shareholders are concerned.

    Contact:

    Zyzygy plc
    Duncan Lipscombe (Chairman)
    07775 681648

    Grant Thornton Corporate Finance
    Philip Secrett/Colin Aaronson
    020 7383 5100

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