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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Responzetv | LSE:RETV | London | Ordinary Share | GB00B18X8Z87 | ORD 16P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 24.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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RNS Number:9470T
ResponzeTV PLC
08 May 2008
ResponzeTV PLC ("the Company")
Negotiations Relating to part of the North America TV Retail Business
The Company announces that it is currently in talks with OmniReliant Holdings,
Inc ("Omni") regarding the proposed sale to it by the Company of part of the
Group's North America Television Retail business. While the sale terms are still
to be finalised, the Company announces that Omni has made an advance to the
Company of US$2 million, which will be used against the purchase price if the
sale proceeds.
The parties have agreed that if the sale is not completed within 45 days, Omni
will apply this amount plus interest in subscribing for new ordinary shares and
subscription warrants of the Company, or the Company may pay back the advance
plus interest. The proposed sale will be subject to compliance with the AIM
Rules and the City Code on Takeover and Mergers.
The Company will make a further announcement, with further details as required,
in due course.
Kevin Harington and Tim Harrington, directors of the Company, are also directors
of Omni, which currently holds 18,000,000 ordinary shares of the Company and,
under the AIM Rules, is a substantial shareholder of the Company.
8 May 2008
For further enquiries contact:
Steven Goodman,
Executive Chairman, ResponzeTV PLC
Tel: +61 400 83 5555
Bobbie Hilliam,
Evolution Securities Limited
Tel: +44 207 071 4300
This information is provided by RNS
The company news service from the London Stock Exchange
END
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