RNS Number:7278S
Independent Intl Inv Research PLC
12 March 2007

Press release
07h00, 12 March 2007


Independent International Investment Research Plc ("the Group")


Issue of Shares


The Board has today approved the issue of shares to two directors and to one
former director and to a supplier who has expressed a desire to accept shares in
lieu of standard cash terms.

Shane Smith and Karen Griffith, both current directors, and Richard Hutchinson,
a former director, agreed to forgo salaries for extended periods between 2004
and 2006 in order to support the Company during a challenging stage of its
growth.  Over this time, these salaries together with the associated Employer's
NI liabilities have been fully provided for in the Company's accounts for the
relevant periods.  As at 28 February 2007, the total accrued salary amounts
within the accounts, were:


Shane Smith:                      #167,500
Karen Griffith:                   #36,416
Richard Hutchinson:               #40,500

Total:                            #244,416



Shane Smith, Karen Griffith and Richard Hutchinson have agreed to accept
Ordinary shares in the Company at #0.50p in order to offset these accrued
amounts.  The impact on the Balance Sheet is positive to the extent that the
Company's liabilities are reduced and this will be reflected as a post-balance
sheet event in the Group's 2007 Report and Accounts.



The total number of new shares to be issued in respect of the accrued salary
amounts, the associated Employer's NI liabilities and the amounts due to the
supplier is 651,266.


Application will be made for up to 651,266 ordinary shares of 1p each in the
Company to be admitted to trading on the AIM Market ("Admission"). The new
shares will rank pari passu with existing ordinary shares in the Company and it
is expected that Admission and trading in the shares will commence on 15 March
2007. Following Admission, there will be 26,097,804 Ordinary shares of 1p each
in the Company in issue.



Following this issue, the directors' interest in the shares of the Company are:


Shane Smith (including shares held through the Smith Trust)      16,890,949
Karen Griffith                                                      969,760



Representing 64.72% and 3.72% of the enlarged Ordinary Share Capital,
respectively.





-ENDS-



For further information please contact:

Shane Smith, Chairman and CEO,   Shane.smith@iirgroup.com   +44 7785 276 703
Independent International 
Investment Research PLC

Nandita Sahgal
Insinger de Beaufort             nsahgal@insinger.com       +44 (0) 20 7190 7013





Notes to editors:

Independent International Investment Research PLC ("Independent II Research")
(LSE:IIR) is the UK's leading source for impartial research and strategy for
global equities and foreign exchange.



The company was admitted to the Alternative Investment Market (AIM) of the
London Stock Exchange in 2000, and operates through two subsidiaries: Pronet
Analytics.com Limited (Regulated and Authorised by the Financial Services
Authority in the UK, and registered as an Investment Advisor with the Securities
Exchange Commission in the USA) which has been ranked consistently in the global
top-five independent currency research firms; and Independent Research Pvt
Limited, its research centre in Mumbai, India.  The Group has become the leading
specialist in the United States for the provision of research on non-US
companies (primarily those with American Depositary Receipt programs).



The company is headquartered in London, with research and development facilities
operating in China and India.  Key distribution partners are BNY Jaywalk, Inc.,
Reuters PLC, Institutional Research Services, Inc., and Bloomberg LP (PRON)
as well as a number of specialist distribution partners in China who are focused
specifically on introducing FX research services to the rapidly developing
currency markets in that country.



From March 2007, the Group introduces a new umbrella brand for its sales
channel: IN Research, to capture the values of research which is
INcisive-INnovative-INternational-INdependent-INdispensible-INspired.



IN Research:
INcisive-INnovative-INternational-INdependent-INdispensible-INspiredTM









                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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