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Your Space PLC (YSP)

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Monday 12 May, 2008

Your Space PLC

Issue of Equity

RNS Number : 1237U
Your Space PLC
11 May 2008
 
                 Your Space plc ('Your Space' or 'the Company')

                                Issue of Equity



12 May 2008



The Your Space board hereby announces that further to the convertible loan
agreement between Your Space and YA Global Investments, L.P. (f/k/a Cornell
Capital Partners, LP) dated 19 December 2007 (the 'Agreement') and notified to
the market on 21 December 2007, the Company received notice on 6 May 2008 that
YA Global Investments wish to convert £125,000 of the principal loan amount (the
'Conversion Amount') into ordinary shares of £0.10 each in the capital of the
Company ('Ordinary Shares').



Pursuant to the Agreement, the Conversion Amount is convertible at a rate which
is the lower of the market price at the date of the issue of the Agreement and
80% of the market price at the date of conversion. The volume weighted average
price for the 5 trading days immediately preceding the date of the conversion
notice to the Company was £0.760071, therefore the conversion price is 80% of
£0.760071, amounting to £0.6080568. As a result of this conversion, Your Space
has allotted and applied for 205,573 new Ordinary Shares to be admitted to
trading on AIM and dealings are expected to commence on 13 May 2008. This
represents approximately 0.01% of the issued share capital of the Company. The
new Ordinary Shares will rank pari passu with the existing Ordinary Shares in
issue and increase the issued share capital to 21,860,359.



For further information please contact:-



Steve Turton, Director, Your Space plc                  0151 229 1717

Sue Lace, Company Secretary, Your Space plc             0151 229 1717

Richard Hughes / Bobby Fletcher, Zeus Capital           0161 831 1512
This information is provided by RNS
The company news service from the London Stock Exchange
 
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