31 July 2014
Milestone, the AIM quoted (AIM: MSG) provider of digital media and technology solutions, announces that it has agreed to issue 70,436,393 new ordinary shares in the Company at a price of 1 penny per share, raising £694,363.93 in cash and settling £10,000 worth of trade creditors.
The company has built and developed an exciting product range and as previously announced at the interim results, was in the process of seeking funds to accelerate the commercialisation of these products as they have started to become revenue generating.
We are delighted to have now raised those funds at a premium to the existing share price. The funds raised will be used to further develop a number of Milestone’s products and accelerate revenue opportunities including:
The new ordinary shares will rank pari passu with the existing ordinary shares of Milestone. Application has been made for the 70,436,393 ordinary shares to be admitted to trading on AIM, which is expected to occur on or around 5 August 2014.
Following the issue, Milestone will have in issue 553,961,032 ordinary shares with voting rights.
Catenae Innovation Plc
Tony Sanders
Tel: 020 7929 7826
Cairn Financial Advisers LLP, Nominated Adviser
Liam Murray/Jo Turner
Tel: 020 7213 0880
Alexander David Securities Limited, Broker
David Scott
Tel: 020 7448 9820