Placing & Issue of Loan Notes
01 Abril 2005 - 11:31AM
UK Regulatory
IMS MAXIMS plc ("IMS MAXIMS" or the "Company")
�2.1 million Fundraising
The Board of IMS MAXIMS plc are pleased to announce the completion of a
fundraising that will provide the Company with �2.1 million in new funds. The
Agreement comprises of:
- The issue of 74,400,000 new ordinary shares in the Company at a price of 1.5
pence each raising �1,116,000 ("the Placing"); and
- The issue of a 2007 Secured Loan Note for �1 million with 40,000,000 warrants
attached exercisable at 2.5 pence.
Application has been made for the 74,400,000 new ordinary shares, which will
rank pari passu with existing ordinary shares, to be admitted to trading on the
AIM Market of the London Stock Exchange. Admission will become effective and
dealings are expected to commence at 8.00am on Thursday 7th April 2005.
The directors of the Company, including James Brian Ennis, David W MacDonald,
Peter J Holmes and Stephen Casey are participating in the Placing. As a result
of these participants in the Placing being related parties pursuant to Rule 12
of the AIM Rules, and in accordance with our obligations, both Orla Jenkinson
and Terence Fossey, being the Independent Directors, consider, having consulted
the Company's nominated adviser, that the terms of the Placing are fair and
reasonable as far as the shareholders are concerned.
The Placing shares were distributed to the following notifiable interests:
Name Shares under this Total Shares after Percentage of total
Placing Placing shares in issue
James Brian 15,333,333 40,931,285 17.49%
Ennis
Director of the
Company
David W 3,333,333 5,553,333 2.37%
MacDonald
Director of the
Company
Peter J Holmes 1,666,666 1,863,332 0.80%
Director of the
Company
Stephen Casey 1,000,000 1,000,000 0.43%
Director of the
Company
Mansard Limited 26,666,666 41,166,666 17.59%
Crumlin Picture 13,333,333 13,333,333 5.70%
House
Under the revised rules of the Company's Executive Share Option Scheme all
previously existing share options held by the Directors have been dissolved and
the Directors have been granted the following options to acquire ordinary
shares in the Company on the following dates exercisable at a price of 2pence
per share:
Vesting Date
Vested 22-Dec-05 31-Mar-06 22-Dec-06 31-Mar-07 31-Mar-08 Total
James Brian Ennis 750,000 550,000 200,000 200,000 150,000 150,000 2,000,000
Terence J Fossey 660,000 460,000 140,000 80,000 105,000 105,000 1,550,000
Orla Jenkinson 690,000 490,000 140,000 120,000 105,000 105,000 1,650,000
Stephen Casey 450,000 350,000 140,000 200,000 105,000 105,000 1,350,000
David W MacDonald 225,000 225,000 200,000 300,000 150,000 150,000 1,250,000
Peter J Homes 30,000 30,000 20,000 40,000 15,000 15,000 150,000
Enquiries to:
Stephen Casey
Financial Director
IMS Maxims Plc
Clara House
Glenageary Park
Co. Dublin
Ireland
Tel +353 1 2840555
Fax +353 1 2840829
END
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