RETV Responzetv

    RNS Number : 3550X
  ResponzeTV PLC
  23 June 2008
   

    ResponzeTV PLC ("the Company")

    Negotiations Relating to part of the North America TV Retail Business


    The Company refers to its announcement made on 8 May 2008 that it was in talks with OmniReliant Holdings, Inc ("Omni") regarding the
proposed sale to it by the Company of part of the Group's North America Television Retail business. The Company also announced that Omni had
made an advance to the Company of US$2 million, which will be used against the purchase price if the sale proceeds and that the parties had
agreed that if the sale was not completed within 45 days ("Maturity Date"), Omni will apply this amount plus interest in subscribing for new
ordinary shares and subscription warrants of the Company, or the Company may pay back the advance plus interest. 

    The Company announces that talks with Omni are continuing and that, to enable those talks to continue further, the parties have agreed
to extend the Maturity Date to 21 July 2008 or such later date as the parties may agree.

    The Company will make a further announcement, with further details as required, in due course. 

    Kevin Harington and Tim Harrington, directors of the Company (who are currently suspended), are also directors of Omni, which currently
holds 18,000,000 ordinary shares of the Company and, under the AIM Rules, is a substantial shareholder of the Company. 

    24 June 2008

    For further enquiries contact:

    Steven Goodman, 
    Executive Chairman, ResponzeTV PLC
    Tel: +61 400 83 5555

    Bobbie Hilliam, 
    Evolution Securities Limited
    Tel: +44 207 071 4300



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