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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Milestone Grp | LSE:MSG | London | Ordinary Share | GB0033127910 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.145 | 0.13 | 0.16 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMSG MILESTONE GROUP PLC ("Milestone" or the "Company") Issue of Equity Milestone, the AIM quoted (AIM: MSG) provider of digital media and technology solutions, announces that it has agreed to issue 70,436,393 new ordinary shares in the Company at a price of 1 penny per share, raising GBP694,363.93 in cash and settling GBP10,000 worth of trade creditors. The company has built and developed an exciting product range and as previously announced at the interim results, was in the process of seeking funds to accelerate the commercialisation of these products as they have started to become revenue generating. We are delighted to have now raised those funds at a premium to the existing share price. The funds raised will be used to further develop a number of Milestone's products and accelerate revenue opportunities including: -- Digitising Disorder Magazine as announced on 30 April 2014, Milestone acquired all rights and title to the Disorder publication. The Company will now develop a digital offering to complement the printed version of the magazine and expand its commercialisation; -- Marketing and distribution of Winning in the Game of Life this educational product addresses the aspects of the Social, Moral, Spiritual and Cultural curriculum learning needs of pupils and is in the process of being marketed to UK primary schools and other education providers. The product benefits from a recurring revenue license model, but requires a "train the trainer" approach to distribution prior to sales generation that will require financing by the company; -- Monetising and continuing momentum of the Passion Project to run alongside the next engagement activities as announced on 8 May 2014, including expansion of the PP portal and delivery mechanisms with our partners; and -- General working capital purposes and funding of key new staff - the product range now requires specific skill-sets to ensure revenues are generated, and to maintain support levels for both our customers and end-users. This leads to a requirement for the additional recruitment of staff into certain positions within the company - the fundraising facilitates this process. The new ordinary shares will rank pari passu with the existing ordinary shares of Milestone. Application has been made for the 70,436,393 ordinary shares to be admitted to trading on AIM, which is expected to occur on or around 5 August 2014. Following the issue, Milestone will have in issue 553,961,032 ordinary shares with voting rights. For further information: Milestone Group PLC Tel: 020 7929 7826 Deborah White, Chief Executive Cairn Financial Advisers LLP, Nominated Adviser Tel: 020 7148 7900 Liam Murray / Avi Robinson Hybridan LLP, Broker Tel: 020 3713 4581 Claire Louise Noyce This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Milestone Group PLC via Globenewswire HUG#1844079 http://www.milestonegroup.co.uk/
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