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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 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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TIDMMSG
MILESTONE GROUP PLC
("Milestone" or the "Company")
Settlement Agreed for October 2016 Placing
Milestone (AIM:MSG), the AIM quoted provider of digital media and
technology, announces that following a review of the situation regarding
the placing announced on 20 October 2016 (the "Placing") and the
likelihood of successful recovery of the outstanding proceeds, it has
entered into a compromise agreement with the counterparty of the Placing,
which was the Company's placee.
In the Placing, a dispute arose between the Company and a counterparty
in relation to the issue and allotment of 83,333,332 shares (the
"Shares") at a price of 1.5 pence per share, as the GBP1.25 million
gross proceeds from the Placing were not received by the Company from
its placee. The counterparty has agreed to pay the company a settlement
payment of GBP125,000 and to waive all rights to the Shares.
It is now the Company's intention to dispose of the Shares in due course
to new placees as and when demand arises.
This announcement contains inside information for the purposes of
Article 7 of EU Regulation 596/2014. The person who arranged for release
of this announcement on behalf of the Company was Tony Sanders (Chief
Executive Officer).
For further information:
Milestone Group PLC Tel: 020 7929 7826
Tony Sanders
Cairn Financial Advisers LLP, Nominated Adviser Tel: 020 7213 0880
Liam Murray / Jo Turner
Hybridan LLP, Broker
Claire Louise Noyce Tel: 020 3764 2341
Walbrook PR Limited, PR Tel: 020 7933 8780
Gary Middleton / Paul Cornelius
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq 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
http://www.milestonegroup.co.uk/
(END) Dow Jones Newswires
January 22, 2018 02:00 ET (07:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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