MBW Mobilewave

TIDMMBW

RNS Number : 1458A

Mobilewave Group PLC

27 March 2012

27 March 2012

MobileWave Group plc

("MobileWave" or the "Company")

Issue of Equity

The Board is pleased to announce that as a result of the ongoing investment in the Company by Dutchess Opportunity Cayman Fund Ltd ("Dutchess") announced on 06 October 2011 the Company is issuing a further 250,000 new ordinary shares in the Company to the Dutchess. Under the Investment Agreement entered into by the Company and Dutchess, Dutchess agreed to subscribe for up to GBP4.0 million of new ordinary shares in the Company over a period of three years.

Accordingly, application has been made for the 250,000 new ordinary shares to be admitted to trading on AIM and it is expected that admission will take place on 30 March 2012.

The new ordinary shares will rank pari passu with the existing shares of the Company. Following this allotment, the total issued share capital of the Company will increase to 111,632,009 ordinary shares.

For further information, please contact:

   MobileWave Group plc                                                       rstear@mobilewave.com 

Rory Stear, Chairman

Charles Stanley Securities 020 7149 6000

Nominated Adviser & Broker

Dugald J.Carlean / Carl Holmes

This information is provided by RNS

The company news service from the London Stock Exchange

END

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