Acquisition
January 23 2008 - 1:01AM
UK Regulatory
RNS Number:3341M
Screen FX PLC
23 January 2008
Press Release 23 January 2008
ScreenFX plc
("ScreenFX" or "the Group")
Acquisition of Screen Media Networks Limited
ScreenFX plc (AIM:SFX), the digital advertising and communications specialist,
today announces that it has completed the acquisition of Screen Media Networks
Limited ("SMN"), an outdoor media contractor that combines both traditional and
digital media services.
The acquisition of SMN has been completed for an initial consideration of
12,625,559 new Ordinary Shares, or 29.9 per cent of the Enlarged Group's
Ordinary Share Capital. These new Ordinary Shares will be admitted to trading
on AIM on 28 January 2007. Up to 16,974,833 new Ordinary Shares may be allotted
depending on future funding being secured.
The Enlarged Group will then and thereafter trade under its new name, Vision
Media Group (International) plc ("VMG"), with the market EPIC of VMG.
As a result of the acquisition, Dominic Brookman will join the Board of VMG as
Chief Executive Officer.
Dominic Brookman will initially be beneficially interested in 8,572,409 Ordinary
Shares as a result of the acquisition, which will represent approximately 20.3
per cent of the enlarged Group's issued share capital.
Pursuant to Rule 17 of the AIM Rules, the information required to be given in
respect of Dominic Brookman is as follows:
Full name: Dominic Justin Brookman
Age: 38
Current Directorships:
Posad Limited
Screen Media Networks Limited 2006
Past Directorships held in the past five years:
Theme Park Media
Business First Luxury Transportation
Freestyle Business Holdings Ltd.
Retail TV Ltd.
Football Media Limited
Dominic Brookman is a director of Posad ltd which went into creditors voluntary
arrangement in 2005 due to debts of approximately �200,000. Dominic has
personally funded the CVA since then.
Under Schedule Two, paragraph (g), of the AIM Rules, there is nothing further to
disclose.
- Ends -
For further information:
ScreenFX plc
Mike Cottman, Executive Chairman Tel: +44 (0) 161 428 5544
mikec@screenfx.com www.screenfx.com
Seymour Pierce Limited
Stuart Lane / John Depasquale, Corporate Finance Tel: +44 (0) 20 7107 8000
stuartlane@seymourpierce.com www.seymourpierce.com
Media enquiries:
Abchurch
Henry Harrison-Topham / Gareth Mead Tel: +44 (0) 20 7398 7700
henry.ht@abchurch-group.com www.abchurch-group.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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