Ashpool Telecom plc
LSE : ASHP

July 09, 2008 06:26 ET

Change of Name and Acquisition of Command Television Ltd

                                                                                                  09/07/2008

                                                                                                GB0007235459
                                              ASHPOOL TELECOM PLC
                                                       
                    Result of EGM, Change of Name and Acquisition of Command Television Ltd
                                                       


CHANGE OF NAME AND ACQUISITION OF CTV


NAME CHANGE

The board of the company are pleased to announce that at EGM today all resolutions were passed and the company
name will now be changed to Command Technology Group PLC (CTG). The Company has also moved offices to Stoney
Bridge House, 28-32 Bridge Street, Leatherhead, Surrey, KT22 8BZ.


UPDATE ON INVESTMENTS

The board has now reviewed all of its investments and would like to update its shareholders as follows:-


ACQUISITION OF COMMAND TELEVISION LIMITED

The board are delighted to announce that it has now completed the acquisition of Command Television Ltd, a
company which specialises in interactive solutions for broadcast providers, including gaming, reality TV voting
and call TV. The terms of the acquisition are 400 new shares in CTG for each CTV share in issue, meaning that
1,438,400 new shares will be issued.  Following the resignation of Christopher Aitken from CTV, Jennifer Allsop
has been appointed to the board.


INCREASED SHAREHOLDING IN CLICK SOLUTIONS.NET LIMITED

CTG already own 47.5% of the company and now have shareholder approval to acquire the remaining 52.5% for a
cash consideration of £27,631.  We expect this to be completed within the next 2-4 weeks.  This sees the
acquisition of key infrastructure for the company including hosting infrastructure for our IVR solutions.


INVESTMENT IN CONFABULATE LIMITED

We currently hold 20% of the issued share capital of this company. We continue to provide services on
commercial terms. We view this as a speculative investment and will update shareholders in due course should
the situation change.


Commenting on the CTV acquisition, Scott Fletcher, Chairman of CTG said "The completion of the acquisition of
CTV enables the company to move forward with its plan as an end to end provider of Converged media, broadcast
and telecoms solutions, making it unique in its market place which gives us a distinct competitive edge when
bidding for business."



Directors Share holdings following CTV acquisition



Shares in Issue                          8,286,300

Neil Newell                              3,148,295 (38%)

Scott Fletcher**                           623,700 (7.5%)

Mick Gossage                               774,800 (9.4%)

** Out of Scott Fletchers' holding above, 235,200 shares are held in the name of Lowry Investment Capital
Limited which is wholly owned by a trust of which Scott Fletcher is a Trustee.

The Directors are now interested in 4,546,795 ordinary shares which equates to 54.90% of the issued share
capital.



The Directors of the Issuer accept Responsibility for the contents of this announcement



For more information, please contact

Command Technology Group PLC

Jennifer Allsop

Chief Executive Officer

01372 869 855

Or

St Helen's Capital PLC

Barry Hocken/Duncan Vasey

Corporate Advisor

020 7628 5582

Contact Information

  • Ashpool Telecom plc