Creative Entertainment Group plc

July 24, 2009 05:00 ET

Placing and Board Change

             Creative Entertainment Group plc / Index: PLUS / Ticker: CEGO / Sector: Entertainment
                                       Creative Entertainment Group plc
                                         ('Creative' or 'the Company')
                                           Placing and Board Change

The  Directors of Creative Entertainment Group plc are pleased to announce that the Company has raised  £10,000
following  the  placing of 1,000,000 new ordinary shares of 1p each at 1p per share. The subscriber  for  these
shares was Worldwide Natural Resources Plc (WWNR), which has increased its total shareholding in the Company to
16,000,000 shares, representing 8.4% of the enlarged share capital of the Company.

On  20  July 2009, Mr Alan Judd submitted his resignation as a Director of the Company and his resignation  was
accepted by the Board on 21 July 2009. Mr Judd has left the Board in order to concentrate on his other business
interests.  He  remains interested in 6,000,000 ordinary shares in the Company and continues to hold  6,000,000

Mr  Jon  Pither  and  Mr Peter Frohlich, both Directors of the Company, have each agreed  to  accept  5,000,000
warrants in lieu of director's fees amounting to £24,000 each; the warrants are exercisable at 1p for each  new
ordinary share at any time from the date of issue to 30 November 2012. Hurst Morrison Thomson LLP, advisers  to
the  Company, have agreed to accept 5,600,000 warrants in consideration for services provided; theses  warrants
are exercisable at 1.25p for each new ordinary share at any time from the date of issue to 30 November 2012.  A
further  2,000,000 warrants exercisable at 1p for each new ordinary share have been issued to an  employee  and
2,000,000  warrants  have  been issued to a former director and former employee,  in  replacement  of  existing
options outstanding.  Of these latter warrants, 1,000,000 are exercisable at 1p for each new ordinary share and
I, 000,000 are exercisable at 2p for each new ordinary share.

As  a  result  of  the above transactions, the Company now has 190,254,566 ordinary shares in  issue  of  which
47,226,682  are  held by Directors (24.8%) and 156,130,468 warrants in issue of which 55,500,000  are  held  by
directors (35.5%).

The Directors of the issuer accept responsibility for this announcement.

For further information contact:

Luca Tenuta                      Creative Entertainment Group plc                 Tel: 020 7499 7176
Duncan Vasey/Mark Anwyl          St. Helen's Capital plc                          Tel: 020 7628 5582

Contact Information

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