Milestone Group PLC : Issue of Equity and Total...

Issue of Equity

Milestone, the AIM quoted (AIM: MSG) provider of digital media and technology solutions, is pleased to announce that it has raised £426,430 by way of a placing of 42,643,000 new ordinary shares in the Company at a price of 1 penny per share. Thisis part of a wider placement of potentially up to £750,000, subject to permissions being granted at the Annual General Meeting on 30 March 2012.

Application will be made for the 42,643,000 Ordinary Shares to be admitted to trading on AIM, which is expected to occur on or around 26 March 2012.  The new Ordinary Shares, will rank pari passu with the existing Ordinary Shares of Milestone.

The proceeds of the placing will be used by the Company for general working capital purposes.

Total Voting Rights

In accordance with the Financial Services Authority's Disclosure and Transparency Rules, following the issue of equity, the Company will have in issue 339,821,025 ordinary shares of 0.1 pence each, each share carrying the right to one vote.  The Company does not hold any ordinary shares in treasury.

The above figure of 339,821,025 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 to their interest in, the share capital of the Company under the Financial Services Authority's Disclosure and Transparency Rules.

Deborah White, CEO, commented:

"It is important to highlight to shareholders that the business has undergone a major transformation over the last few months having been completely restructured. Milestone is now revenue generating and has several well received pilots in progress in our core markets. We hope to announce further progress during the course of the year.

"We are delighted to announce the first £426,430 of the £750,000 at 1p per share, a premium to current market price, and we believe this is testament to the strong stable of products we have put together and the opportunities they represent. The funds raised will significantly strengthen the balance sheet and provides the Company with the working capital to take advantage of the market opportunity we have worked hard to create."
  

For further information:

Milestone Group PLC Deborah White, Chief Executive	Tel: [phone]
Cairn Financial Advisers LLP, Nominated Adviser Liam Murray / Avi Robinson	Tel: [phone]
Hybridan LLP, Broker Claire Louise Noyce / Deepak Reddy	Tel: [phone]
College Hill, PR Jamie Ramsay	Tel: [phone]

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Source: Milestone Group PLC via Thomson Reuters ONE

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