DISPOSAL AND SMALL SUBSCRIPTION
(Thomson Reuters ONE) - MILESTONE GROUP PLC "Milestone" or the "Company" DISPOSAL AND SMALL SUBSCRIPTIONDISPOSALAIM listed Milestone announces further progress in its plans to focuson the development of new media services following the disposal ofits local television broadcasting licences to Ultra Digital Limited("Ultra Digital").Ofcom has approved the transfer to Ultra Digital of the followingfive restricted television service licences formerly held by theGroup's wholly owned subsidiaries:RTSL 035 Oxford - held by Oxford Broadcasting Limited, company number03426787RTSL 016 Southampton - held by SIX TV Southampton Limited, companynumber 0394439RTSL 030 Fawley - held by SIX TV Southampton Limited, company number0394439RTSL 015 Portsmouth - held by SIX TV Portsmouth Limited, companynumber 03944398RTSL 036 Reading - held by Reading Television Limited, company number04570403In the financial year ended 30 September 2008, the main tradingcompany for the local TV division, Oxford Broadcasting Limited,incurred losses of £75,336. Ultra has paid consideration of £10,000inclusive of VAT for the five licences and their associatedintellectual property, which were valued as NIL in the Group'saccounts to 30 September 2008. Settlement will be against existingamounts owed to Ultra Digital by the Company.These funds have been allocated as follows:RTSL 035 - £6,000 allocated to Oxford Broadcasting LimitedRTSL 016 & 030 - £2,000 allocated to Six TV Southampton LimitedRTSL 015 - £1,000 allocated to Six TV Portsmouth LimitedRTSL 036 - £1,000 allocated to Reading Television LimitedMilestone Executive Director, Deborah White, said:"Following a comprehensive review of strategy, the Board concludedthat it would not be in the best interests of shareholders tocontinue to be exposed to the local TV sector. The Oxfordtransmission contract expired in April 2009 and, since that time noneof the licences have been in operation.""The effect of the disposals will be to terminate the continuedtrading losses of SIX TV, helping Milestone to give shareholdersexposure to a range of robust future-facing new media and new mediatechnology businesses. The Group remains actively engaged innegotiations with the US-based services provider, Jumpstart Wireless,and in the continued development of the Nexstar sports mediaproduction project. To that end, the Board is pleased to announce asmall fundraising to support its ongoing working capitalrequirements."SMALL SUBSCRIPTIONAIM listed Milestone announces a small subscription to raise £69,427(before expenses) through the issue of 3,295,467 new ordinary sharesof 0.1 pence in the capital of the Company (the "SubscriptionShares").The Company has received and accepted irrevocable applications forSubscription Shares from the following parties (collectively the"Subscription"):+-------------------------------------------------------------------+| Name of | Number of | Subscription Shares | Subscription || subscriber | Subscription | as proportion of | Price || | Shares | issued share | || | | capital | || | | post-admission | ||---------------+--------------+---------------------+--------------|| Redmayne | 142,857 | 0.16% | 1.75p || Nominees (on | | | || behalf of | | | || Ultra Digital | | | || Ltd*) | | | ||---------------+--------------+---------------------+--------------|| Ian Lodwick* | 890,389 | 1.01% | 1.8p ||---------------+--------------+---------------------+--------------|| Frank Eliel | 444,444 | 0.50% | 2.25p ||---------------+--------------+---------------------+--------------|| Diana Eliel | 444,444 | 0.50% | 2.25p ||---------------+--------------+---------------------+--------------|| Diana Eliel | 106,667 | 0.12% | 2.25p ||---------------+--------------+---------------------+--------------|| Brewin | 555,556 | 0.63% | 2.25p || Nominees Ltd | | | || (on behalf of | | | || Martin King) | | | ||---------------+--------------+---------------------+--------------|| Horizon | 204,444 | 0.23% | 2.25p || Trustees Ltd | | | || (on behalf of | | | || M King) | | | ||---------------+--------------+---------------------+--------------|| Horizon | 284,444 | 0.32% | 2.25p || Trustees Ltd | | | || (on behalf of | | | || M King) | | | ||---------------+--------------+---------------------+--------------|| Lisa-Jayne | 222,222 | 0.25% | 2.25p || Vines* | | | |+-------------------------------------------------------------------+*These parties are contractors of the Company or its subsidiariesThe Company will be making application for the Subscription Shares tobe admitted to trading on AIM with admission anticipated on 7September 2009. The Subscription Shares will rank pari passu in allrespects with the existing ordinary shares of Milestone.Post-admission, the Subscription Shares in aggregate will constitute3.73 per cent of the enlarged issued share capital of Milestone of88,297,729 ordinary shares.So far as the Company is aware and subject to any new notificationsreceived, the following persons will have a notifiable interest inthe issued share capital of Milestone post-Subscription:+-------------------------------------------------------------------+| | Pre-Subscription | Post-Subscription ||-----------------------+---------------------+---------------------|| TRMK Estate Income | 14,372,066 (16.91%) | 15,416,510 (17.46%) || Ltd (& connected | | || parties) | | ||-----------------------+---------------------+---------------------|| Deborah Jane White | 7,903,431 (9.30%) | 7,903,431 (8.95%) ||-----------------------+---------------------+---------------------|| Reginald John Breley | 5,750,000 (6.76%) | 5,750,000 (6.51%) ||-----------------------+---------------------+---------------------|| Magdalene Manikam | 5,666,667 (6.67%) | 5,666,667 (6.42%) ||-----------------------+---------------------+---------------------|| CMH Management Ltd | 4,817,290 (5.67%) | 4,817,290 (5.46%) ||-----------------------+---------------------+---------------------|| John Godfrey | 4,166,667 (4.90%) | 4,166,667 (4.72%) ||-----------------------+---------------------+---------------------|| Susan Auden | 4,166,667 (4.90%) | 4,166,667 (4.72%) ||-----------------------+---------------------+---------------------|| Compass Securities | 4,166,667 (4.90%) | 4,166,667 (4.72%) || Ltd | | ||-----------------------+---------------------+---------------------|| Carrix Ltd | 2,777,778 (3.27%) | 2,777,778 (3.15%) |+-------------------------------------------------------------------+FOR FURTHER INFORMATION:MilestoneDeborah White, Chief ExecutiveTel: 020 7929 7826Arden Partners plcRichard Day / Adrian TrimmingsTel: 020 7398 1600---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 01.09.2009 - 16:00 Uhr
Sprache: Deutsch
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