Cube8 Group PLC
8 January 2002
Room Service Group plc, formerly The Cube8 Group plc, ('the Company') is
pleased to announce that its acquisition of Room Service (UK) Limited by way
of reverse take over ('the Acquisition') and the placing of new ordinary
shares in the Company ('the Placing') have now been completed.
The consideration for the Acquisition of £1,465,950 was satisfied by the issue
of 69,807,145 new ordinary shares of 1p each in the Company on which the sum
of 2.1p per share is credited as having been paid up. As a result of the
Acquisition, Ronnie Pearl, Gerald Gold, Alexander Duma and others deemed to be
acting in concert with them, together control 59.02 per cent of the issued
ordinary share capital of the Company. An amount of approximately £250,000
(before expenses) was raised pursuant to the Placing by way of the issue of
11,904,760 new ordinary shares at 2.1 p per share.
The resolutions proposed at the Extraordinary General Meeting held on 4
January 2002 ('the Resolutions') were duly passed and trading on the
Alternative Investment Market of the London Stock Exchange plc in the new
ordinary shares of 1p each arising from the capital reconstruction effected
pursuant to the Resolutions commenced on Monday 7 January.
The change of name of the Company to Room Service Group plc became effective
from today and it is anticipated that certificates for the new ordinary shares
will be despatched to shareholders by not later than 21 January 2002
Ronnie Pearl and Gerald Gold have been appointed as Executive Directors of the
Company and Alexander Duma has been appointed as the Non-Executive Chairman.
Tim Dean-Smith, Steven Masters, David Dobson, Tarick Kreimeia and Lucy
Beverley all former directors have resigned.
The Company intends to apply to the High Court as soon as practicable for
confirmation of the reduction of its share capital and share premium account
as detailed in the circular to shareholders dated 12 December 2001.
Further inquiries regarding this announcement should be made either to the
Company's Nominated Adviser, Seymour Pierce Limited for the attention of:
John Depasquale 020 7648 8731
or to the Company for the attention of :
Gerald Gold 020 7644 6666
Ends
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