Milestone (AIM:MSG), the AIM quoted provider of digital media and technology solutions, announces that it has agreed to issue 4,833,334 new ordinary shares of 0.1 pence per share in the Company, subject to admission to AIM, raising £72,500 at a price of 1.5 pence per share.
Furthermore, the Company announces that it has agreed to issue 4,570,093 new ordinary shares of 0.1 pence per share in the Company, subject to admission to AIM, at a previously agreed price of 1 penny per share in lieu of a creditor balance of £45,700.93. This was agreed with the creditor when the share price was less than 1 penny per share and the board is keen to honour its commitment on price to these creditors.
The total of 9,403,427 new ordinary shares will rank pari passu with the existing ordinary shares of Milestone.
Application will be made for the 9,403,427 ordinary shares to be admitted to trading on AIM, which is expected to occur on or around 04 November 2016.
Following the Issue of Equity, Milestone will have in issue 885,734,741 ordinary shares with voting rights.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information:
Milestone Group PLC
Tel: 020 7929 7826
Cairn Financial Advisers LLP, Nominated Adviser
Liam Murray/Sandy Jamieson
Tel: 020 7213 0880
Hybridan LLP, Broker
Claire Louise Noyce
Tel: 020 3764 2341
Walbrook PR Limited, PR
Gary Middleton / Paul Cornelius
Tel: 020 7933 8780