Angelfish Investments plc

August 23, 2013 06:20 ET

Investment, Variation to Structure of Investments and Trading Update

23 August 2013
                                            Angelfish Investments Plc
                                         ("Angelfish" or "the Company")
                                      Variation to Structure of Investments
                                               and Trading Update


Further  to  the  announcement  made on 6 June 2013, Angelfish Investments Plc, an investment  vehicle  company,
announces  that  the  Company  has made an investment (the "Investment") of a further  US$60,000  in  One  Media
Enterprises  Limited  ("OME"), through a further subscription for secured convertible loan  notes  ("Convertible
Loan Notes") in OME.

The Investment has been provided to OME in order to pursue the following:

-    to  purchase  stock  of  "OneMedia"  computing tablets (the  "Tablets")  for  supply  and  resale,  via
     independent representatives across the USA;

-    to  place Tablets into inventory with A.B. Distributing, Inc ("A.B."), a distribution partner  of  CDW,
     making these tablets available to their customers, as well as Anuncio, LLC ("Anuncio"); and

-    To  provide additional working capital for the OME group and to develop marketing and support materials
     for the purchased inventory, including the prepayment of certain support services for call centre, warranty,
     repair and other customer care requirements, for once the Tablets have been received into supplier inventory.

Anuncio  entered into a letter of intent with OneMedia Partners Inc ("OneMedia"), a wholly owned  subsidiary  of
OME,  on  23  April 2013, as an exclusive master reseller of OneMedia Tablets for the purposes  of  selling  the
Tablets  into the healthcare industry within the State of Texas.  The Board of OME have informed Angelfish  that
OME expects that a final agreement between OneMedia and Anuncio should be completed and executed in due course.

Robert  Wagner, President and CEO of the OME group of companies commented, "We are pleased that the first  order
of  our newest Android Tablets is expected to be shipped to us in the short term future.  Based upon our current
level of customer inquiries, we feel that the OME group could be in a position to place its second order in  due
course after the receipt of the first order.  Furthermore, we expect that the second order could be larger  than
the first and should additionally include the latest Windows Tablet model."

Andrew  Flitcroft, Finance Director of Angelfish commented "The Board of Angelfish sees the recent  developments
as  significant  steps  forward  for  OME, ratifying its business model to develop  and  provide  purpose  built
computing  Tablets. OME's recent progress should help with bringing trading revenue into OneMedia, and Angelfish
is  pleased  to be able to support OneMedia in its activities and further build on the relationship between  the
two companies."


On  21  January 2013, the Company announced it had entered into a Memorandum of Understanding ("MOU") with  OME,
which contemplated that, subject to the satisfaction of certain conditions, Angelfish may make an investment  of
up to US$500,000 in OME, in stages and in accordance with agreed milestones.

The  MOU  provides  that  each  of  the events will provide Angelfish with a right  to  subscribe,  but  not  an
obligation, for the relevant number of Convertible Loan Notes, with the conversion of the Convertible Loan Notes
being  at the option of Angelfish. It is also provided that the aggregate investment of $500,000 will represent,
on  conversion,  20  per cent of the enlarged share capital of OME.  The MOU was superceded  by  a  subscription
agreement dated 30 April 2013.

In exchange for Angelfish's agreement to provide OME with today's Investment, outside of the milestone framework
set  out  in  the  subscription  agreement, and for the Company's continued support  to  OME,  the  subscription
agreement  and  the terms of the loan notes have been varied so that the aggregate investment of $500,000  would
now, on full conversion, represent 29.9 per cent of the enlarged issued share capital of OME.


OneMedia has continued to develop its United States distribution network as it moves towards generating revenue.
OneMedia  is also currently in the process of also developing the necessary distribution infrastructure required
to  support the needs of potential customers in the United Kingdom.  Furthermore, OneMedia has selected  certain
other  technologies  from  those  available  from its manufacturing partners  in  China,  which  should  provide
OneMedia's  future  customers  with  access to economically competitive Android,  Windows  and  wearable  mobile
devices, in the markets of education, healthcare, entertainment and enterprise.

As  mentioned above, OneMedia has secured a new distribution channel for its Tablets.  A.B. has begun  marketing
OneMedia  Tablets  for sale across the U.S.  A.B. has been distributing over 100 major computer  and  electronic
products  since  1984,  and will be adding OneMedia's Tablets to this product array with  a  view  to  beginning
marketing  OneMedia's  Tablets  in time for 2013's fourth quarter sales period.   A.B.  customers  include  CDW,
Insight, Zones, Tiger Direct, PC Connection, PC Mall, and other resellers throughout the US.

Additionally, Porter Bibb, managing director of MediaTech Capital Partners, has joined OME's board of  advisors.
It  is intended that Mr. Bibb will help to expand OME's marketing efforts, to include U.S. and global media  and
telecom  partnerships and assist OME's management with marketing Tablet products in the educational, healthcare,
and  entertainment media markets.  Mr. Bibb has served as a commentator on the BBC, CNN, CNBC, and Bloomberg TV,
focusing on transformative technologies, innovative company performance, and new and disruptive business models.
He  is  also  is a contributor to the Wall St. Journal, the New York Times, and other major media outlets.   Mr.
Bibb is also a strategic advisor to global technology companies and brings more than 40 years of experience  and
relationships across global media, technology, and telecommunications companies.


OME  is  a  UK  incorporated holding company for a group of U.S. incorporated companies which are at pre-revenue
operating stages and are engaged in the development and marketing of computing Tablets and other mobile devices.
OME's strategy is to focus on exploiting market niches to deliver private label, purpose-built Tablets and other
mobile  devices.  OME's  strategy is also to provide customised hardware and software  technology  solutions  to
market  segments  which OME's directors believe are under-served and which enterprise factories  are  unable  to
service efficiently.

On  21  January  2013  and 6 June 2013 Angelfish announced that the Company had made an  initial  investment  of
US$50,000  and  a  further  investment  of US$100,000 (respectively) in  OME  via  a  subscription  for  secured
Convertible Loan Notes in OME.




Angelfish Investments                                      
Andrew Flitcroft, Finance Director                                          +44 (0)7769 591096
ISDX Corporate Adviser
SVS Securities Plc
Kulvir Virk                                                                 + 44 (0)207 638 5600

About Angelfish Investments

The Company's ordinary shares are admitted to trading on the ISDX Growth Market in London. The Company has the
ISDX trading symbol ANGP.

Contact Information

  • Angelfish Investments plc