Tuesday 5th February 2008
VENUE SOLUTIONS HOLDINGS PLC
Following unanimous Board consent, Venue Solutions Holdings Plc ("Venue
Solutions" or the "Company") announces that it is raising £310,500 before
expenses through the issue of 7,762,500 new ordinary shares of 2 pence each in
the capital of the Company (the "Subscription Shares") at a price per share of
The issue of the Subscription Shares is conditional on the admission of such
shares to trading on AIM becoming effective. Application will today be made for
the admission of the Subscription Shares to trading on AIM and such admission
is expected to occur on 11th February 2008.
The Subscription Shares, representing approximately 11 per cent of the enlarged
issued ordinary share capital of the Company (comprising 69,709,999 ordinary
shares in aggregate) will rank pari passu in all respects with the existing
The proceeds of the issue will be invested in the Company's wholly-owned
subsidiary Destination Media Limited ("Destination Media") and applied to the
general working capital requirements of the Company.
Destination Media was launched to ensure that Venue Solutions Limited had the
distribution capability in media sales to win business in venues that required
a commercial revenue stream from advertising and sponsorship as a return on
investment. This has directly led to contracts to Venue Solutions Limited of
over £400,000 in the last 3 months and is growing rapidly.
Destination Media is also at the forefront of the emerging
Interactive-out-of-Home advertising market as it exclusively represents a
unique UK network of Sensitive FloorTM installations owned by Sedona Ltd
("Sedona") in shopping malls and leisure destinations. Sensitive FloorsTM are
3m x 2m interactive video projection systems which respond with dynamic content
when people step onto the projection area. The content comprises changing
images and games which respond to movement and bring brand advertising
campaigns to life. Sedona has contracted Destination Media as the exclusive
media/advertising agency for the Sensitive FloorTM systems, with the latter
being installed and managed by the Company.
The network consists of six top-ranked UK shopping malls (Metro Centre,
Gateshead; Lakeside, Thurrock; Castle Court, Belfast; Merry Hill, Dudley;
Braehead, Glasgow; and Printworks, Manchester) reaching an audience of in
excess of 2.6 million consumers per week.
Tim Godwin, MD of Sedona Ltd, commented: "Venue Solutions has worked closely
with us to launch and manage the unique Sensitive FloorTM network. Venue
Solutions' systems integration expertise will enable us to rapidly deploy and
effectively support our innovative interactive media proposition in the UK's
premier shopping centres."
Commenting on the share issue, Dominic Berger, CEO of Venue Solutions Holdings
Plc said: "Destination Media uniquely enables Venue Solutions to work with
network owners, like Sedona, to unlock the commercial potential of their
estates. Supporting the Sedona Sensitive FloorTM network reinforces our
commitment to providing world-class technology solutions in venues and the
delivery of commercial returns from the installed networks."
For further information please contact:
Venue Solutions Holdings Plc
T: 0870 243 0908
Richard Day/Tom Fyson
Arden Partners Plc
T: 0207 398 1632
Tria Nomina Ltd
T: 0870 850 2157