IMX Ims Maxims

IMS MAXIMS PLC - Placing & Issue of Loan Notes 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 DATASOURCE: IMS MAXIMS PLC

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