LONDON (Thomson Financial) - YooMedia PLC said it has reached an agreement
to buy 100 pct of Spain's interactive television company Fresh Interactive
Technologies SA and said it proposes to now raise 8.42 mln stg not 8.6 mln stg.
On Dec 6, the company had conditionally raised about 8.6 mln stg, which it
believed would provide a well funded group better positioned to exploit the many
opportunities in interactive media in Europe.
Today, the company said in order that the Concert Party retains an interest
of less than 50 pct of YooMedia, on completion of the proposals, it is necessary
for the placing to be reduced to 8.42 mln stg from the previous figure of 8.6
mln stg as announced on Dec 6.
Kasei 2000 SL, a special investment vehicle, has been deemed to be acting in
concert with the vendors of Fresh Interactive for the purposes of the City Code,
YooMedia said.
In an EGM statement, YooMedia said if shareholders do not support the
proposals, the company may not have sufficient working capital to meet its
creditors' obligations as they fall due.
TFN.newsdesk@thomson.com
kkb/jfr
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