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iPoint-media raises approximately £1.4 million
to expand marketing operations and increase product development
Israel, Tel-Aviv – March 26, 2007 – iPoint-media (LSE:IPNT),
a provider of 3G/IP video interactive application
platforms, is pleased to announce that it has raised
approximately £1.4 million to continue the expansion of its
marketing and customer support teams and product development
ability in response to recent commercial successes with its
strategic partners such as IBM Corporation, with whom
iPoint-media signed a commercial teaming agreement earlier this
month. As such it has agreed to issue
and allot 4,180,000 new ordinary shares in the capital of
iPoint-media at 33p per share. The allotment and issue is
conditional on admission of the Shares to trading on AIM.
In addition, iPoint-media has received, since
22 March 2007, further valid acceptances of the Offer in respect
of 70,500 shares in the capital of ANV representing,
approximately 0.08 per cent. of ANV’s total issued share
capital. Accordingly iPoint-media has issued, conditional on
admission, 8,951 new ordinary shares of 0.25p each.
iPoint-media has now received valid
acceptances of the Offer in respect of a total of 84,543,171
shares in the capital of ANV representing, approximately 97.84
per cent. of ANV’s total issued share capital.
Application has been made for a total of
4,188,951 to be admitted to AIM and it is expected that dealings
in these shares will commence on 29 March 2007.
Following the admission of these shares
iPoint-media will have 107,726,923 ordinary shares in issue.
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