Placing & Trading Update
March 22 2007 - 12:32PM
UK Regulatory
RNS Number:5511T
Messaging International Plc
22 March 2007
Messaging International Plc / Market: AIM / Epic: MES / Sector: Technology
22 March 2007
Messaging International Plc ('Messaging International' or 'the Company')
Trading Update & Placing
Overview
*Placing of 120 million New Ordinary Shares at 0.75p per share to raise
#900,000 (gross)
*Expanded agreement with Sprint Nextel, a leading US wireless operator, to
add Spanish support to Text to Landline application
*Initiated direct web marketing to end users
*Signed contract with the largest wireless operator in Israel - now has
contracts with all four Israeli wireless operators
*Enhanced agreements with blue-chip corporates Bank Leumi, Isracard and
Chinese ASP
*Expanded presence in Spain with two new contracts
Messaging International Plc, the AIM traded provider of innovative messaging
services, has raised #900,000 through a placing of 120 million New Ordinary
Shares at 0.75p per share. The Company's major shareholder, Prideway Holdings
and RTI and associates are together subscribing for 40,000,000 New Ordinary
Shares. The money raised will be used for general working capital.
Additionally, the Company is pleased to provide an update on its recent trading
performance. It has formed new partnerships, expanded its service offering with
existing clients, signed up new customers and developed a new direct marketing
website.
* The Company has expanded its existing relationship with Sprint Nextel
(NYSE: S), the third largest wireless operator in the US. Under the agreement,
Sprint Nextel will add Messaging International's Spanish feature to its popular
Text to Landline application, which allows customers to compose text messages
that are converted into voice messages and delivered to landline phones. Sprint
Nextel customers will be able to create a text message in Spanish and have it
delivered as a Spanish voice message to a landline recipient. All the response
messages and recordings are also all in Spanish. Since it commenced at the
beginning of 2006, the monthly revenues from the Sprint Nextel contract have
more than doubled.
* The Company is initiating direct web marketing to end users. To this
end it has developed and launched a new website, which enables users to buy 'pay
as you go' services for its popular PC to Mobile products. The Company's
strategic plan is to enable end users to have the option to pay for these
services through their own operator.
* The Company has signed a contract with the largest operator in Israel
and now has contracts with all four Israeli wireless operators for various PC to
Mobile products. Pelephone has already launched the Company's PC to Mobile
service during 2006 and the other three operators are expected to launch similar
services in the first half of the year.
* The Company has expanded its contract with Rogers, a Tier 1 Canadian
wireless operator, through the launch of its Mail Plug-in application, which
allows subscribers to compose and send text messages directly from within
Microsoft Outlook(R) and Outlook Express(R). Outlook users can also have
important filtered email and calendar reminders sent directly to their mobile
phone as text messages. It can be downloaded from http://www.shoprogers.com/
business/wireless/plans_services/smsoutlookplugin.asp
* Messaging International has received purchase orders from existing
clients including Bank Leumi, Isracard and a leading Application Service
Provider in China (announced in February 2006), which have all added
enhancements to their existing service.
* The Company is expanding its presence in Spain through its partner,
Dominion. It has received orders for approximately $300,000 from two public
sector agencies for its Mail Plug-in and Multi Alert products.
Messaging International CEO, Guy Levit, said, "We remain focused on developing
the services offered to current customers, signing new clients and strengthening
relationships with our partners worldwide. Furthermore, we continue to expand
our product offering, such as adding the Spanish feature. We hope that this will
help Sprint Nextel capture the Spanish speaking market in the US and grow the
application penetration even further."
As part of the placing, the Company has entered into a conditional put and call
option agreement ("the Option") with Pacific Continental Securities (UK) Ltd
("PacCon"), whereby PacCon will invest a further #500,000, by way of a
subscription of new ordinary shares of 0.5 pence per share, at the Company's or
its own request at a subscription price per new ordinary share which is a 50%
discount to the middle market price of an ordinary share for the previous 20
business days. The exercise period commences on 14 August 2007 and continues for
six months thereafter. The Option is conditional upon completion of the placing
and the shareholders of the Company giving to the directors of the Company, on
or before 30 June 2007, at an extraordinary general meeting authority to allot
the new ordinary shares pursuant to the Option in accordance with the Companies
Act 1985.
On admission of the 120,000,000 New Ordinary Shares to trading on the AIM
market, the following Directors holdings in ordinary shares in the Company will
be:
New ordinary Shares held on % of enlarged
Shares Admission issued share
capital
Horacio Furman (1) 16,533,333 70,704,564 30.04%
Geoffrey Simmonds (2) - 200 0%
David Rubner (3) 800,000 1,088,512 0.46%
(1) Horacio Furman's holding consists of 34,492,934 ordinary shares held by
Prideway Holdings Ltd (a company of which he is chairman and a major
shareholder), 19,678,297 ordinary shares held by Prideway II LLP (a limited
partnership of which he is a limited partner) and the balance of 16,533,333
ordinary shares held in his own name.
(2) Geoffrey Simmonds holds these shares jointly with Reverse Take-Over
Investments plc and is a minority shareholder and a director of Westside
Acquisitions plc and a director of RTI plc, which has an interest in 23,000,000
ordinary shares.
(3) David Rubner's holding is held through Rubner Technology Ventures Ltd, a
company of which he is a director and a major shareholder.
Application has been made for the admission of the New Ordinary Shares to
trading on the AIM market. The New Ordinary Shares will rank pari passu with the
existing ordinary shares of 0.5p each in the Company and dealings in the New
Ordinary Shares are expected to commence on Friday 23 March 2007.
* * ENDS * *
For further information visit www.telemessage.com or contact
Guy Levit Messaging International Plc Tel: + 972 3 922 5252
Isabel Crossley St Brides Media & Finance Ltd Tel: +44 (0) 20 7242 4477
Mark Percy Seymour Pierce limited Tel: +44 (0) 20 7107 8032
Messaging International Plc
Messaging International Plc joined AIM in August 2005 with the objective of
becoming a leading provider in the rapidly growing multimedia messaging market.
Its 100% owned subsidiary, TeleMessage Ltd (www.telemessage.com), provides
cross-platform media messaging management systems and applications. These are
designed to enable PC, browser, mobile phone and wireline telephone users to
send, receive and manage voice messages, email, text, IM and MMS across various
media platforms. It supports multiple languages, text to speech conversion,
e-mail notification, unlimited text length, and direct reply to text
capabilities, all illustrating the uniqueness of the service. The Company has a
number of contracts with major blue chip companies including Rogers Wireless,
the largest wireless provider in Canada.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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