EBTM Ebtm

    RNS Number : 2073Y
  EBTM PLC
  02 July 2008
   
    EBTM

    EBTM plc
    ("EBTM" or "the Company")

    Institutional Placing

    EBTM plc, the online retailer of music inspired clothing, has raised �675,000 before expenses through the placing of 19,285,715 new
ordinary shares ("Placing Shares") with institutional investors at a price of 3.5p per share.  The proceeds will be used for additional
working capital and to fund the future development of the Company.  Application will be made for the new ordinary shares to be admitted to
trading on AIM and it is expected that admission will take place on 10 July 2008.

    The Placing Shares represent 7.17 per cent. of the enlarged share capital of the Company and will be issued pursuant to the Company's
existing authorities.  Following the issue of the Placing Shares, the Company will have 269,097,744 ordinary shares in issue.

    Richard Breeden, Chief Executive, said:

    "Following the excellent progress reported in our preliminary results for the year ended 30 April 2008, as announced on 17 June 2008, we
are very pleased to have raised these new funds which will further underpin our strategy of strong growth.  With online retailing predicted
to continue to grow rapidly, the Board views the outlook for the business in the current financial year as extremely positive."



    Enquiries

 EBTM plc
 Richard Breeden, Chief Executive  020 7819 1950
 Officer
 Ian Collins, Chief Financial
 Officer

 Nominated Adviser
 Nabarro Wells & Co. Limited
 Hugh Oram
                                   020 7634 4700
 Blue Oar Securities Plc
 Jerry Keen                        020 7448 4400

 Biddicks
 ZoBiddick/Sophie Lane             020 7448 1000



This information is provided by RNS
The company news service from the London Stock Exchange
 
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