RAM Ram Active

 

TIDMRAM 
 
RNS Number : 0960Q 
RAM Investment Group PLC 
03 April 2009 
 

FOR IMMEDIATE RELEASE3 April 2009 
 
 
 
 
RAM INVESTMENT GROUP PLC 
("RAM" or the "Company") 
 
 
RAM INVESTMENT GROUP PLC COMPLETES SHARE SWAP TRANSACTIONS WITH GAMING 
TECHNOLOGY SOLUTIONS PLC AND CEC UNET PLC 
AND PLACING OF NEW ORDINARY SHARES 
 
 
 
 
SHARE SWAP 
 
 
The board of RAM Investment Group Plc ("RAM") announces that, today, it has 
completed the purchase of two investment holdings. 
 
 
The Company has purchased 514,000 ordinary shares representing 1.14% of the 
issued share capital  in Gaming Technology Solutions Plc ("GTS") at a price of 
40p per share in consideration for the issue of 2,937,143 new Ordinary Shares in 
RAM at a price of 7p. GTS is a developer and retailer of computer gaming 
software. GTS's latest annual report and accounts for the year ended 30 June 
2008 showed a profit of GBP124,951 and Net Assets of GBP1,878,416. 
 
 
In addition, the Company completed the purchase of 7,376,646 ordinary shares 
representing 1.40% of the issued share capital in CEC EUNET Plc ("CECEUNET") at 
a price of 3p per share in consideration for the issue of 3,161,420 new Ordinary 
Shares in RAM at a price of 7p. CECEUNET is provider of "top-up" mobile-based 
payment services to consumers in the Henan/Guangdong Provinces and Beijing City 
in China. CECEUNET's latest annual report and accounts for the year ended 30 
June 2008 showed a loss of EUR(63,611) and Net Assets of EUR19,772,000. 
 
 
This will have the effect of increasing the Current Asset investments held by 
RAM by GBP426,899. 
 
 
As part of these transactions, Tim Baldwin, a director of the Company, is 
transferring 240,000  CECUNET shares to RAM in consideration for 102,857 RAM 
Ordinary Shares. In addition, Hill Street Investments Plc, a company in which 
Tim Baldwin is a director and one in which Tim Baldwin exercises management 
control, has transferred in 250,000 GTS shares and 425,000 CECUNET shares in 
consideration for the issue of 1,610,714 RAM shares. These are considered 
Related Party Transactions requiring treatment in accordance with AIM Rule 13 
under the AIM Rules. Accordingly, the Independent Directors, being Edward Adams 
and Iain Manley, have consulted with Beaumont Cornish Limited, the 
Company's Nominated Advisor, and consider the terms of the transactions to be 
fair and reasonable insofar as the shareholders of the Company are concerned. 
Tim Baldwin, following completion of the transaction, has an interest in 
3,374,571  RAM Ordinary Shares representing 15.21% of the now issued share 
capital. 
 
 
In addition, as a result of the transactions, John McKeon will now have an 
interest in 3,501,420  RAM Ordinary Shares representing 15.78% of the now issued 
share capital. 
 
 
In addition, as a result of the transactions, Nigel Tose will now have an 
interest in 994,286 RAM Ordinary Shares representing 4.48% of the now issued 
share capital. 
 
 
 
 
THE PLACING 
 
 
The Company has placed 1,000,000 new ordinary shares of 1p each at a price of 4p 
per share to raise GBP40,000 before expenses. The proceeds of the placing will 
be used for general working capital purposes. 
 
 
Application has been made for the 7,098,563 new Ordinary Shares, which will rank 
pari passu with  the existing Ordinary Shares, to be admitted to AIM and trading 
is expected to commence on 9 April 2009. The issued share capital following the 
issue of these new shares will be 22,188,963 Ordinary Shares. 
 
 
 
 
 
 
For further information please call: 
 
 
Tim Baldwin  RAM investment Group plc    020 7518 4337 
 
 
Roland Cornish            Beaumont Cornish Limited                 0207 628 3396 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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