RAM Ram Active

 

TIDMRAM 
 
RNS Number : 7635H 
RAM Investment Group PLC 
26 February 2010 
 

FOR IMMEDIATE RELEASE                                                  26 
February 2010 
 
 
                            RAM INVESTMENT GROUP PLC 
                            ("RAM" or the "Company") 
 
                                Issue of Equity 
 
 
On 10 November 2009, RAM announced the acquisition of certain assets of ASG 
Media Group ("ASG") by TrainFX Limited ("TrainFX"), a company in which RAM holds 
a 49.9% stake. 
 
Since the acquisition, the assets acquired from ASG have been operated by a 
subsidiary of the Company called RAM Vision Limited ("RAM Vision").  RAM Vision 
operates in the Digital out of Home media sector, and provides screen based 
advertising systems to shopping mall operators. 
 
The Company borrowed GBP175,000 for this new initiative from three individuals, 
Mark Pearson, Donal Boylan and John McKeon (the "Funders").  The financing 
provided by the Funders was interest free but granted the Funders a 50% interest 
in RAM Vision.  The Company has now agreed with the Funders that it will issue 
new ordinary shares of 1p each in RAM ("Ordinary Shares") to repay the debt 
funding ("Loan Repayment") and to acquire their 50% interest in RAM Vision. 
 
On 25 February 2010 the Company repaid the GBP175,000 owed to the Funders 
through the issue of 2,058,824 Ordinary Shares to the Funders at a price of 8.5p 
per share. On the same day, RAM entered into a share purchase agreement with the 
Funders to acquire the Funders' 50% interest in RAM Vision ("Agreement").  The 
total consideration payable by the Company under the Agreement comprises the 
issue of a further 2,141,176 new Ordinary Shares on completion, plus a deferred 
consideration of up to 2.8 million new Ordinary Shares ("Deferred 
Consideration"). The number of new Ordinary Shares issued as Deferred 
Consideration will depend on the trading performance of RAM Vision in the 
current year to 31 December 2010. 
 
Tim Baldwin, Executive Chairman, commented "We are delighted to have fully 
funded the acquisition of RAM Vision through the issue of equity and at the same 
time to have brought in supportive shareholders. Although RAM Vision is only 
three months old, we are very pleased with the progress made by the company in 
such a short period." 
 
As a result of the Loan Repayment and completion of the Agreement, Mark Pearson 
now holds 2.8 million Ordinary Shares in RAM, representing 3.5% of the issued 
share capital of RAM. 
 
Application will be made for the 4.2 million new Ordinary Shares, which will 
rank pari passu with the existing Ordinary Shares in issue, to be admitted to 
AIM.  The new Ordinary Shares are expected to begin trading on 4 March 2010. 
 
 
 
 
For further information: 
 
+-----------------------------------------+------------------------------+ 
| RAM Investment Group plc                | www.raminvestmentgroup.co.uk | 
+-----------------------------------------+------------------------------+ 
| Tim Baldwin, Executive Chairman         |           Tel: 0207 518 4300 | 
+-----------------------------------------+------------------------------+ 
| Sandy Jamieson, Libertas Capital        |           Tel: 0207 569 9650 | 
| Corporate Finance Limited               |                              | 
+-----------------------------------------+------------------------------+ 
| Monisha Varadan, Rivington Street       |           Tel: 0207 562 3389 | 
| Corporate Finance Limited               |                              | 
+-----------------------------------------+------------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 IOEXQLFLBLFXBBD 
 

RAM (LSE:RAM)
Historical Stock Chart
From Jun 2024 to Jul 2024

RAM (LSE:RAM)
Historical Stock Chart
From Jul 2023 to Jul 2024