RAM Ram Active

 

TIDMRAM 
 
RNS Number : 3751L 
RAM Investment Group PLC 
05 May 2010 
 
5 May 2010 
 
 
                            RAM INVESTMENT GROUP PLC 
                            ('RAM' or the 'Company') 
 
                              Update on Investments 
 
 
On 25 September 2009 RAM announced that it had entered into two option 
agreements to purchase the remaining 50.1% of TrainFX Limited ("TrainFX"). RAM 
had entered into option agreements with Old Church Street Holdings Limited 
("OCH") and the administrators of Vision Media Group PLC ("VMG") to acquire 
OCH's holding of 25.1% and VMG's holding of 25% of the outstanding shares in 
TrainFX.  The options were at RAM's call only and could have been exercised up 
to 31st March 2010. 
 
On 31 March 2010 the Company announced that it had reached agreements in 
principle with both VMG and OCH to extend these options to 30 June 2010. 
 
New OCH option 
 
RAM and OCH have agreed to terminate the option agreement signed in September 
2009 and have entered into a new option agreement under which RAM will acquire 
OCH's entire holding of 25.1% of the outstanding shares in TrainFX for a 
consideration of 6 million ordinary shares in RAM ('OCH Option'). The OCH Option 
is at RAM's call only and may now be exercised at any time up to 30 June 2010. 
 
VMG option deed of variation 
 
RAM has entered into a deed of variation with the administrators of VMG to 
extend the option period to 30 June 2010 and effect certain other changes to the 
option agreement as set out below. 
 
The Company has agreed to pay an extension fee of GBP55,000. 
 
The consideration for the remaining 25% of the outstanding shares in TrainFX has 
been changed to a combination of GBP300,000 in cash to be paid to the VMG 
administrators and a GBP250,000 convertible loan note ("Loan Note") to be issued 
by RAM to the first fixed charge holder over VMG's assets, which includes its 
holding in TrainFX.  The agreement now also allows RAM to pay GBP250,000 in cash 
on exercise of the option instead of issuing the Loan Note. The other commercial 
terms of the agreement were left unaltered, in particular, the option granted to 
the VMG administrators to subscribe for 1,466,276 ordinary shares in RAM at the 
price of 13.64p per share remains. This option is also at RAM's call only. 
 
 
 
 
                                      ENDS 
 
Contact: 
 
For further information please call: 
 
Tim Baldwin                RAM investment Group Plc 
0207 518 4303 
 
Sandy Jamieson         Libertas Capital Corporate Finance Limited   0207 569 
9650 
Thilo Hoffmann 
Peter Greensmith       Rivington Street Corporate Finance Limited  0207 565 3350 
Jon Levinson 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 STRUVAARRWAVRAR 
 

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