Re: Proposed Placing and EGM

RNS Number:0735J
Vividas Group plc
04 December 2007


VDS.L


                               Vividas Group plc
                          ('Vividas' or 'the Company')

                       Update on Proposed Placing and EGM

Further to the statements issued on the 7th, 28th and 30th November 2007
regarding a proposed placing of 10.0 million new ordinary shares at a placing
price of 25 pence per new ordinary share, Vividas has now received a conditional
offer from Ignition Capital UK Limited, a wholly owned subsidiary of Ignition
Capital, LLC ("Ignition Capital"), the Delaware based company whose managing
member is Mr Aubrey Chernick. Ignition Capital is an existing shareholder of
Vividas and currently owns 2,077,300 million ordinary shares, representing 6.4%
of the issued share capital.

The conditional offer from Ignition Capital UK Limited is for the subscription
by Ignition Capital of up to 7,142,857 new Vividas ordinary shares at a
subscription price of 35 pence per new ordinary share. Additionally, Mr Aubrey
Chernick has personally guaranteed the obligations under the conditional offer
from Ignition Capital UK Ltd.

The offer is conditional on the passing of the relevant resolutions detailed
below at the Vividas AGM convened for 21 December 2007, the admission to AIM of
the new ordinary shares on the placing effected by HB Corporate not being
completed.

In the light of the alternative conditional offer, by mutual consent, the
conditional placing agreement entered into between the Company and HB Corporate
has today been terminated. HB Corporate are recommending the new offer from
Ignition Capital UK Ltd, recognising the improved terms compared to the initial
placing agreement.

Vividas proposes that the EGM adjourned to 5 December 2007 be adjourned
indefinitely since, as of today, the proposed EGM resolutions have no further
relevance.

The resolutions already sent to shareholders in the notice of meeting convened
for the AGM of 21 December 2007 including specifically ordinary resolutions
numbers 8 and 9 and special resolution number 10 will, if passed, permit the
Ignition Capital UK Limited offer to be completed.


Enquiries:

Vividas Group plc
Paul Neville, Chief Executive Officer                  Tel: [phone]
Greg Minns, Finance Director                                     www.vividas.com

HB Corporate
Jim McGeever/ Rachel Kane                              Tel: [phone]
                                                                     
Biddicks
Katie Tzouliadis / Sophie Lane                         Tel: [phone]
                                                                 

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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