Increased Investment
November 21 2007 - 2:01AM
UK Regulatory
RNS Number:1263I
Zyzygy PLC
21 November 2007
21 November 2007
Zyzygy plc
Increased investment in NiceTech
The directors of Zyzygy plc ("Zyzygy" or "the Company") today announce that they
have increased their holding in NiceTech Limited ("NiceTech") to 51.57%. The
increased holding has come about through the conversion of a loan amounting to
#899,714.90 into shares at a pre-conversion valuation of #10,000,000. It is the
Company's strategy to hold minority stakes in businesses and to exit
successfully from those investments. The Company anticipates that its holding
will be reduced below 50% before the end of its current financial year ending 30
June 2008.
NiceTech is a Cambridge based software company that is developing unique
software (called AliceServerAR) that allows for complex, large scale simulated
environments to be built and accessed by thousands of participants via the
Internet. In July 2007, Zyzygy announced progress on a unique Children's
massively multiplier online game ("MMO") based upon Ragdoll's latest children's
programme, Tronji. Within a 12-month development programme, Nice Tech is on
schedule to complete the game for Spring 2008, to coincide with the broadcast
launch of Tronji on CBBC.
Contact:
Zyzygy plc
Duncan Lipscombe, Chairman
07775 681648
Grant Thornton Corporate Finance
Philip Secrett/Colin Aaronson
020 7383 5100
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBMBATMMJTBLR
Zyzygy (LSE:ZYZ)
Historical Stock Chart
From May 2024 to Jun 2024
Zyzygy (LSE:ZYZ)
Historical Stock Chart
From Jun 2023 to Jun 2024