Creative Entertainment Group plc

November 05, 2009 05:30 ET

Issue of equity and Resignation of Director

             Creative Entertainment Group plc / Index: PLUS / Ticker: CEGO / Sector: Entertainment
                                       Creative Entertainment Group plc
                                         ('Creative' or 'the Company')
                                  Issue of equity and Resignation of Director
The  Directors of Creative Entertainment Group plc are pleased to announce that the Company has raised £110,392
through the issue of 11,039,200 new ordinary shares of 1p each at par. The new ordinary shares, which represent
5.5%  of the Company's enlarged issued share capital, have been subscribed by Ms Karen Haddon. The proceeds  of
this  issue  have  been applied as a non refundable deposit in connection with a possible acquisition.  Further
information about this possible acquisition will be announced in due course, if appropriate. Under the terms of
her  subscription  agreement, Ms Haddon will, subject to certain conditions, also  be  issued  with  11,039,200
warrants  at  1p each entitling her to subscribe for one new ordinary share of 1p each at any time between  the
issue of the warrants and 30 November 2012.

The  Company also announces that Mr. Jon Pither has stepped down from the Board in order to focus on his  other
business interests.

Peter  Frohlich  said: "Jon has made an important contribution to the Board since Creative was listed  on  PLUS
Markets and we wish him well."

As  a  result  of  the above transaction, the Company now has 201,293,766 ordinary shares in issue.  Currently,
156,130,468 warrants are in issue and this will increase to 167,169,668 following the issue referred to  above.
The  Directors are interested in a total of 32,546,682 ordinary shares in the Company representing 16.2% of the
issued share capital and 25,000,000 warrants representing 16% of the warrants currently in issue.

The Directors of the issuer accept responsibility for this announcement.

                                                   **ENDS **
For further information contact:

Creative Entertainment Group plc                                            Tel: 020 7499 7176
Peter Frohlich

St. Helens Capital Partners LLP                                             Tel: 020 7368 6959
Duncan Vasey or Mark Anwyl

Contact Information

  • Creative Entertainment Group plc