Completion of Acquisition (2503G)

TIDMBLNX TIDMBRST

RNS Number : 2503G

Blinkx Plc

10 May 2011

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

For immediate release

10 May 2011

ACQUISITION (the "Acquisition")

OF

BURST MEDIA CORPORATION ("Burst")

BY

BLINKX PLC ("blinkx")

Completion of Acquisition

The boards of Burst and blinkx are pleased to announce that the Acquisition became effective upon the filing of the certificate of merger with the Maryland Secretary of State at 2.57 p.m. (EDT) yesterday ("Completion").

As a result, Burst became a wholly owned subsidiary of blinkx and all of the previously outstanding Burst Shares were cancelled and converted into the right to receive the relevant consideration due to holders of such shares on Completion pursuant to the Merger Agreement.

Each Stockholder who held Burst Shares on Completion will receive a Letter of Transmittal, which will contain specific instructions with regards the exchange of their Burst Share certificates for the consideration due to them. Settlement of the consideration due pursuant to the Merger Agreement cannot take place until the return of the completed and signed documentation.

On Completion, Jarvis Coffin, Brian Emsell, Felice Kincannon, Jim Garrity, David Hanger, Steve Hill, David Stein and Tim Trotter all resigned as members of the Burst Board with immediate effect. Immediately following Completion, Suranga Chandratillake and Jonathan Spira were appointed to the Burst Board.

Also on Completion, Altium Capital Limited resigned as Nominated Adviser and Broker to Burst with immediate effect.

Cancellation of the admission to trading on AIM of the Burst Shares will become effective at 7.00 a.m. (BST) on 12 May 2011.

All definitions contained in this announcement will have the same meaning as defined in the joint announcements made by blinkx and Burst released on 8 April 2011.

 
 Enquiries: 
 blinkx plc 
 Suranga Chandratillake, Chief Executive Officer    [phone] 
 Jonathan Spira, Chief Financial Officer 
 
 Burst Media Corporation 
 Jarvis Coffin                                      [phone] 
 
 Canaccord Genuity Limited (Financial Adviser 
  to blinkx) 
 Rory O'Sullivan                                    [phone] 
 Christopher Fincken 
 
 Citigroup Global Markets Ltd (NOMAD and Broker 
  to blinkx) 
 Charles Lytle                                      [phone] 
 Christopher Wren 
 
 Financial Dynamics (PR Adviser to blinkx) 
 Edward Bridges                                     [phone] 
 Charles Palmer 
 Haya Herbert-Burns 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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