Information  X 
Enter a valid email address

Digital Learning Marketplace p (ARGP)

  Print      Mail a friend       Annual reports

Wednesday 15 February, 2012

Digital Learning Marketplace p

Digital Learning Marketplace plc : Issue of Equity

Digital Learning Marketplace plc : Issue of Equity

        15 February 2012

DIGITAL LEARNING MARKETPLACE PLC
("DLM" or "the Company")

Issue of Equity

DLM, the AIM listed digital learning business, is delighted to announce that following the announcement on 15 November 2011, development of the Digital Learning Marketplace ("DLMP") is progressing to plan and the first payment for the acquisition of £40,000 will be made by the issue of 20,000,000 shares @ 0.20p to Milamber Ltd.  Milamber Ltd, in which Andy Hasoon is a 21% shareholder, (DLM's Chief Executive and Director) owns an 8.75% interest in DLM (60,000,000 ordinary shares of 0.05p).  Accordingly, the transaction is a Related Party Transaction as defined by the AIM Rules.

As stated on 15 November the independent Directors of DLM (being all the Directors with the exception of Andy Hasoon) having consulted with the Company's Nominated Adviser, consider that the terms of the MOU are fair and reasonable insofar as the Company's shareholders are concerned.

In addition to the issue above the Company has issued 5,800,000 shares for cash @ 0.20p per share raising £11,600 net of costs.  The proceeds will be used for general working capital purposes.  In addition, the Directors intend to subscribe for shares on the same terms.  

The Issues are conditional on admission of the Shares to trading on AIM ("Admission").  Application has been made to the London Stock Exchange for the Placing Shares, which will rank pari passu with all existing ordinary shares, to be admitted to trading on AIM. Admission is expected to become effective and dealings to commence on or around 20 February 2012.

Following Admission the number of shares in issue will be 674,809,182 Ordinary shares of 0.05 pence per share. This figure may be used by shareholders in the Company 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 share capital of the Company under the Financial Services Authority's Disclosure and Transparency Rules.

-ends-
For further information:

DLM plc                                                                     020 7408 4720
Andy Hasoon, Chief Executive
Angus Forrest, Chairman       

Beaumont Cornish Limited (Nomad)                      020 7628 3396
Roland Cornish

Rivington Street Corporate Finance (Broker)        020 7562 3357
Jon Levinson

Allenby Capital Limited (Broker)                             020 3328 5656
Nick Naylor / Nick Athanas

Leander (Financial PR)                                             07795 168 157
Christian Taylor-Wilkinson

NOTES TO EDITORS

About DLM plc

DLM plc is a digital learning company which specialises in the provision of productivity improvement, compliance and process change using truly engaging elearning to provide the solutions.  The appropriate solution may be digital learning or instructor lead, or blended learning a mix of the two, to regulated industries and distributed workforces.




This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Digital Learning Marketplace plc via Thomson Reuters ONE

HUG#1585667