MKM Mkm Group

    RNS Number : 1901J
  MKM Group PLC
  28 November 2008
   

    28 November 2008

    MKM GROUP PLC
    ("the Company")

    Re: Issue of Equity


    On 3 August 2007 MKM Group plc ("MKM" or the "Company") announced the acquisition of Leisure World Pty Limited and its subsidiaries (the
"Leapfrog Group"). MKM today announces that, pursuant to the agreement dated 2 August 2007, the Company has today issued and allotted
20,216,216 new ordinary shares of 0.5p each in the capital of the Company ("Ordinary Shares") and agreed to make the payment of �64,865 to
Richard Tenser and Brian Smillie, the vendors of the Leapfrog Group (the "Vendors"), in full satisfaction of the deferred consideration
payable by the Company. In addition, the Company and the Vendors have agreed to waive the right to any claims under the warranties and
indemnities which each party may have against each other in certain circumstances.  

    The number of Ordinary Shares to be issued to each of Richard Tenser and Brian Smillie are, and their respective interests in the voting
rights of the Company following the issue of such Ordinary Shares will be, as follows:

                 No. of new Ordinary     No. of Ordinary     % of enlarged issued share capital
                 Shares to be issued         Shares 
                                         after the issue
 Richard Tenser       9,097,297             18,097,297                     19.4%

 Brian Smillie        11,118,919            22,618,919                     24.2%


                      20,216,216            40,716,216                     43.6%

    Brian Smillie has options over 1,375,000 Ordinary Shares pursuant to an option agreement dated 2 August 2007.  Richard Tenser has agreed
to waive options over 1,125,000 Ordinary Shares granted pursuant to an option agreement dated 2 August 2007.  

    Application will be made for the 20,216,216 Ordinary Shares ("New Ordinary Shares") to be admitted to trading on AIM and dealings are
expected to commence on 4 December 2008. The New Ordinary Shares will rank pari passu in all respects with the Ordinary Shares currently in
issue.

    In addition, the term loan that the Vendors provided at the time of the acquisition of the Leapfrog Group has been confirmed as a sum of
�450,000 by reference to the calculation and agreement of the Net Asset Value of the Leapfrog Group upon acquisition. The term loan was
included at this value in the balance sheet of the MKM Group set out in the annual accounts for the year ended 31 March 2008 which were
posted to shareholders on 30 September 2008.

    For further information, please contact:

    
 MKM Group PlcAndrew Johnson, Executive ChairmanMatthew       T: 0161 877 1112
 Toynton, Finance Director 
 WH Ireland (NOMAD)                                           T: 0161 832 2174
 David Youngman 
 Biddicks                                                   T: 020 7448 1000  
        Katie Tzouliadis                                
 Sophie Lane       



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