Funding Update

 

TIDMASG 
 
RNS Number : 4999Y 
ASG Media PLC 
03 September 2009 
 

3 September 2009 
 
 
ASG Media plc 
("ASG" or the "Company") (AIM: ASG.L) 
 
 
Funding update 
 
 
ASG Media 
plc, the leading digital screen media specialist, announces that it has secured 
further short term funding from Neo Media Group SA ("Neo Media"). 
 
 
The Board of ASG continues to seek additional 
short term funding to meet the Company's immediate working 
capital requireme 
t as well as to finance the further growth and development of the business. 
 
 
Neo Media has committed a further GBP90,000 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 9 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 
enlarged issued share capital, and convertible loans which upon full conversion 
will require the issue of a further 141,500,000 new ordinary shares. Upon full 
conversion of their convertible loan notes Neo Media will own up to a maximum of 
62.4 per cent of the Company's enlarged issued share capital. 
 
 
The Directors, having consulted with Charles Stanley Securities, believe that 
the terms of the Neo Media Subscription are fair and reasonable so far as 
shareholders are concerned.The Directors reiterate that while the Neo Media 
Subscription meets the Company's immediate working capital requirements the 
Company is continuing to seek further short term funding. 
 
 
 
 
- 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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