LONDON (AFX) - Media Steps Group PLC said it has agreed a recapitalisation
of the company, under which Hansard Communications.com Ltd will subscribe
280,000 stg for 280 mln new shares at a price of 0.1 pence apiece, giving it a
stake of 79.5 pct in the enlarged share capital of Media Steps.
The subscription is dependent on shareholders agreeing to waive any
obligations of Hansard Communications to make a takeover offer for the company.
As a result of the subscription, Adam Reynolds and Paul Foulger from Hansard
will join the board of Media Steps and all existing directors, with the
exception of chairman Neil McClure, will resign.
Media Steps, which has also reached agreement with its creditors, added it
has appointed Beaumont Cornish Ltd as its nominated adviser and broker and that
trading in its shares has therefore recommenced on AIM.
The company also intends to seek opportunities for a reverse takeover of the
business following the recapitalisation.
================
arent Beaumont Cornish NAD's brokers as well ? lets hope NAD can follow in STEP's footsteps.
Nuveen Dividend Advantage Municipal Fund Stock Charts :
Nuveen Dividend Advantage Municipal Fund Historic Stock Chart
Nuveen Dividend Advantage Municipal Fund Intraday Stock Chart
Nuveen Dividend Advantage Municipal Fund stock quotes
Nuveen Dividend Advantage Municipal Fund stock charts
Follow this thread
