RNS Number : 2341S
Hollywood Media Services plc
14 May 2009
14 May 2009
Hollywood Media Services Plc
('HMS' or the 'Company')
Update re Subscription
On 28 April 2009, the Company announced that it received subscription letters for up to 39,000,000 new ordinary shares to raise up to £195,000 at 0.5 pence per share (the 'Subscription'). Of these, 15,000,000 new ordinary shares (the 'First Subscription Shares') were to be subscribed for on an unconditional basis and the remaining 24,000,000 new ordinary shares (the 'Second Subscription Shares') were to be subscribed for conditional upon the passing of certain resolutions at the general meeting of the Company to be held on 21 June 2009.
The subscribers for the First Subscription Shares have defaulted on the payment of the subscription monies and as such the First Subscription Shares have not been issued and will not be admitted to trading today, as originally scheduled. The Board is in active discussions with a small number of potential investors known to the Board and will update shareholders shortly. In the meantime the Board is reviewing the Company's working capital position.
For further information please contact:
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Enquiries:
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Martin Eberhardt
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Hollywood Media Services plc
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020 7332 2200
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Tony Rawlinson / Antony Legge
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Dowgate Capital Advisers Ltd
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020 7492 4777
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Alex Davies
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Merchant Capital Ltd
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020 7332 2200
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www.hmservicesplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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