Issue of Equity and Total Voting Rights

MILESTONE GROUP PLC "Milestone" or the "Company" Issue of Equity and Total Voting Rights Issue of Equity AIM quoted Milestone Group PLC (AIM:MSG), the digital solutions and technology agency, announces that it has agreed to issue 24,408,061 ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares"), at a price of 1.13 pence per Ordinary Share, raising £275,811.07.  Of the Ordinary Shares being issued, 15,929,204 Ordinary Shares are being issued to IIU Nominees Limited on behalf of Brett J. Desmond, representing 9.41 per cent. of the enlarged issued share capital and 5,309,735 Ordinary Shares are being issued to Bryan Lynam, representing 3.14 per cent. of the enlarged issued share capital. The proceeds of the placing will be used to provide working capital and to reduce the Company's liabilities.  As previously announced, the Company continues to actively manage its liabilities and is reliant on its ability to manage the timing of settlement of such liabilities and further fundraisings will be required in the short term. Application will be made for, in aggregate, 24,408,061 new Ordinary Shares to be admitted to trading on AIM, which is expected to occur no later than 8 December 2010.  The new Ordinary Shares, when fully paid and issued, will rank pari passu in all respects with the existing Ordinary Shares of Milestone. Total Voting Rights Following the issue, Milestone will have in issue 169,348,960 Ordinary Shares with voting rights.  The Company does not hold any Ordinary Shares in treasury.  The figure of 169,348,960 Ordinary Shares 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 in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules. So far as the Company is aware and subject to any new notifications received, the following persons will have a notifiable interest in the issued share capital of Milestone following this issue of Ordinary Shares: +------------------------+--------------------------+--------------------------+ |  |Current percentage holding| Resulting percentage | | | | holding | +------------------------+--------------------------+--------------------------+ |Cormac Crawford | 16,988,435 (11.72%)| 16,988,435 (10.03%)| +------------------------+--------------------------+--------------------------+ |Brett J. Desmond (all| -| 15,929,204   (9.41%)| |held by IIU Nominees| | | |Limited) | | | +------------------------+--------------------------+--------------------------+ |HBS 049 Limited | 15,000,000 (10.35%)| 15,000,000   (8.86%)| +------------------------+--------------------------+--------------------------+ |Lynchwood Nominees Ltd | 9,083,489   (6.27%)| 9,083,489   (5.36%)| +------------------------+--------------------------+--------------------------+ |Deborah Jane White (&| 8,777,579   (6.06%)| 8,777,579   (5.18%)| |connected parties) | | | +------------------------+--------------------------+--------------------------+ |Martin King | 6,667,049   (4.60%)| 6,667,049   (3.94%)| +------------------------+--------------------------+--------------------------+ |Reginald John Brealey| 5,475,000   (3.78%)| 5,475,000   (3.23%)| |(all held by W B| | | |Nominees Ltd) | | | +------------------------+--------------------------+--------------------------+ |Bryan Lynam | -| 5,309,735   (3.14%)| +------------------------+--------------------------+--------------------------+ |CMH Management Ltd | 4,817,290   (3.32%)| 4,817,290   (2.84%)| +------------------------+--------------------------+--------------------------+ FOR FURTHER INFORMATION: Milestone Group PLC Deborah White, Chief Executive Tel: 020 7929 7826 Strand Hanson Ltd, NOMAD Richard Tulloch / David Altberg Tel: 020 7409 3494 Hybridan LLP, Broker Claire Louise Noyce Tel: 020 7947 4350 [HUG#1465436] 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: Milestone Group PLC via Thomson Reuters ONE
UK 100

Latest directors dealings