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Update-Investment in OneMedia Enterprises Limited

June 16, 2014

16 June 2014 Angelfish Investments Plc ("Angelfish" or "the Company") Update - Investment in OneMedia Enterprises Limited ("OME") The Company announces that it has varied the terms of the Subscription Agreement dated 30 April 2013 ("Subscription Agreement") with OME by providing OME with the balance of funding to be provided under Tranche 2 Convertible Loan Note of US$150,000 (see below) in advance of a legally binding contract being signed with a customer. OME is a company focused on the exploitation of private label, purpose-built tablets and other mobile devices and associated software technology solutions. OME continues to make good progress, albeit slower than originally envisaged. OME has received two orders from two large companies which OME is treating each as a first "test" order. OME management expect this to lead to further more significant follow on orders from these client companies in the near future. The customer relationship milestones that were originally envisaged by OME and Angelfish in the Subscription Agreement has not resulted in the simple stages of development from Letter of Intent to Contract to Purchase Order progress. The Board of Angelfish accept that these orders confirm OME's business model and ongoing strategy. In addition OME has built up a strong network of current and potential customer relationships together with the manufacturing, logistics and after sales support partnerships necessary to market OME tablets and other mobile devices. Angelfish is advised that this next tranche of funding will provide the working capital required to complete on the above orders for delivery. In addition OME is in advanced discussions to supply existing customers and other large companies. These discussions have been ongoing for some time and OME and Angelfish believe this funding advanced will provide OME with the springboard to complete on one or more of these opportunities. Angelfish will make a further announcement in this respect when appropriate. Background The Company announced on 21 January 2013 that:- (1) it had made an initial investment of US$50,000 into OME by way of a Convertible Loan Note ("CLN") and (2) that the Company had entered into a Memorandum of Understanding ("MOU") with OME The MOU contemplated that, subject to the satisfaction of certain conditions, the Company would provide OME funding by way of as set out below:- ---------------------------------------------------------------------------------------------------------------- Investment Amount of CLN Milestone Tranche ---------------------------------------------------------------------------------------------------------------- 1 US$100,000 OME entering into a memorandum of understanding for it to supply computer tablets to third parties ---------------------------------------------------------------------------------------------------------------- 2 US$150,000 OME entering into a legally binding contract for the supply of computer tablets to third parties ---------------------------------------------------------------------------------------------------------------- 3 US$200,000 OME signing a purchase order for the supply of computer tablets by OME ---------------------------------------------------------------------------------------------------------------- The MOU provided that the aggregate investment of US$500,000 would convert into an amount representing 20 per cent. ("Relevant Percentage") of OME's enlarged share capital. Subsequent to making the Tranche 3 investment of US$200,000 the Company will be granted an option to acquire the share capital of OME not already owned by Angelfish, such option exercisable for a period of 6 months following the Tranche 3 investment. On 6 June 2013 the Company announced that it had made the Tranche 1 investment of US$100,000. On 23 August 2013 the Company announced that it had provided an additional investment into OME (outside of the MOU framework) of US$60,000. OME agreed that the Relevant Percentage referred to in the MOU detailed above would increase to 29.9 per cent. Furthermore, on 23 August 2013 the Company announced that the MOU had been superseded by a subscription agreement dated 30 April 2013. The directors of the Company take responsibility for this announcement. Enquires: Angelfish Investments Plc Andrew Flitcroft +44 (0)7769 591096 Finance Director ISDX Corporate Adviser Cairn Financial Advisers LLP Liam Murray/Carolyn Sansom +44 (0)207 148 7900 Broker SVS Securities Plc Kulvir Virk +44 (0)203 700 0100 About Angelfish Investments plc The Company's Ordinary Shares are admitted to trading on the ISDX Growth Market in London. The Company has the ISDX trading symbol ANGP.


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Source: Marketwire (UK Regulatory)


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