IMM Immupharma Plc

RNS Number:5880C
Internet Music & Media PLC
25 April 2001





Date               25 April 2001



Contacts       Nicholas Cowan
               Internet Music & Media PLC         020 7352 4448

               John East / David Worlidge
               John East & Partners Limited       020 7628 2200

               David Bick
               Holborn Public Relations           020 7979 5599                 
                                                  david.bick@holbornpr.co.uk





                         INTERNET MUSIC & MEDIA PLC

                           ("IMM" or "the Company")



                   Additional Funding to Support Expansion

                  Resignation and Appointment of Directors





Additional Funding to Support Expansion



Further to the announcement made on 27th March 2001, the Company announces
that a further #350,000 of short term funding has been provided.  The
additional loans have been provided as follows:



*        Unsecured loans of #250,000, from Nicholas Cowan, Chairman of the
         Company, and



*        Unsecured loans of #100,000, in aggregate, from The Strawberry Fund
         Limited, Highland Capital Holdings Limited, Highland Specialist Fund   
         Limited (companies which are managed by Highland Fund Advisors Limited)
         and Brookspey Limited.



These loans have been made on the same terms as the loans made on 27th March
2001, the terms of which were:



*        Interest, payable on the repayment of the loans, calculated at 7.75
         per cent. per annum; and



*        Redemption on the earlier of 30th June, 2001 and the date of any
         pre-emptive issue of Ordinary Shares.



It is intended that the Company will repay the loans out of the proceeds of a
pre-emptive issue to shareholders in the near future.  At such time the above
lenders have agreed to be placees to the extent of their loans, subject to
clawback by shareholders, with the result that the loans will be effectively
capitalised.



The Directors consider, having consulted with John East & Partners Limited,
its nominated adviser, that the terms of the loans are fair and reasonable
insofar as IMM ordinary shareholders are concerned.



Resignation and Appointment of Directors



The Company announces that it has appointed Robert Barnaby Cordell (aged 35)
as a non-executive Director of the Company with effect from 24th April 2001.
The Company also announces that Nigel Drummond has resigned as a non-executive
Director of the Company, with effect from the same date, in order to
concentrate on his role as Chief Executive of Internet Incubator plc and to
pursue other business interests.



Robert Barnaby Cordell is currently a director of Groovetech Limited and
Online Music Distribution Limited.  In the past five years, he has had no
other directorships.



Mr Cordell has confirmed that this announcement contains all the information
required under paragraph 16.8 (e) of the AIM Rules.


                                   - ENDS -

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