Released: 30/10/2009
http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20091030:Rnsd6846B
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RNS Number : 6846B
Asia Digital Holdings PLC
30 October 2009
Press Release 30 October 2009
Asia Digital Holdings plc
("Asia Digital" or "the Group")
Issue of Equity
Placing of Shares
Asia Digital Holdings plc (AIM: ADH.L), an independent online marketing group,
announces that it proposes to raise up to £1.275 million (gross of expenses)
from a conditional placing up to 255,000,000 new ordinary shares of 0.1 pence
each ("New Ordinary Shares") at a price of 0.5 pence per Ordinary Share (the
"Placing"). The New Ordinary Shares have been placed by Daniel Stewart & Co plc
with institutional and other existing and new shareholders pursuant to a Placing
agreement, the details of which are set out below.
Use of Proceeds & Current Trading
The cash proceeds of the Placing, amounting to approximately £1.275 million
(before expenses) will be used to reduce creditors and provide working capital
for our expected growth.
Adrian Moss, CEO of Asia Digital, commented: "We are delighted with the support
demonstrated by both new and existing shareholders and are excited about
continuing to build on our existing strategy of growth in the Asia Pacific
region."
Admission
Application has been made for the New Ordinary Shares to be admitted to trading
on the AIM market of London Stock Exchange plc and dealings are expected to
commence on 5 November 2009. The New Ordinary Shares will rank pari passu with
existing shares in issue. Following the Placing, the total number of Ordinary
Shares in issue following the above issue will be 708,768,684 ordinary shares of
par value 0.1 pence each.
-Ends-
For further information, please contact:
Asia Digital Holdings plc
Adrian Moss, Chief Executive Tel: 00 65 6508 9202
www.adhplc.asia
Daniel Stewart & Company plc
Paul Shackleton / Stewart Dickson Tel: +44 (0) 20 7776 6550
www.danielstewart.co.uk
Abchurch Communications
Heather Salmond / Nick Probert Tel: +44 (0) 20 7398 7715
nick.probert@abchurch-group.com www.abchurch-group.com
This information is provided by RNS
The company news service from the London Stock Exchange
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