Funding Update

 

TIDMASG 
 
RNS Number : 6092B 
ASG Media PLC 
29 October 2009 
 

29 October 2009 
 
 
ASG Media plc 
("ASG" or the "Company") 
 
 
Funding update 
 
 
 
 
The Board of ASG Media plc confirms that the Company has restructured GBP196,213 
of existing short term liabilities payable to Harris Liontas into a convertible 
loan. 
 
 
The new convertible loan carries an annual interest rate of 10 per cent. and is 
due to be repaid or converted in 12 months. The new convertible loan is 
convertible at a price of 1p per new ordinary share which, if fully converted, 
will require the issue of up to 19,621,300 million new ordinary shares 
representing 10.8% of the enlarged issued share capital. 
 
 
Meanwhile the Company continues to seek further urgent funding to meet the 
Company's immediate working capital requirement and longer term development 
plans. The Company intends to update Shareholders imminently with further 
information with regards the outcome of the continued funding discussions. 
 
 
 
 
Enquiries: 
 
 
+-------------------------------------------+----------------------------+ 
| ASG Media plc                             | 020 7902 2345              | 
| Jamie Ball, Managing Director             |                            | 
| Gary Truman, Finance Director             |                            | 
|                                           |                            | 
+-------------------------------------------+----------------------------+ 
| 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 
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