Milestone Group PLC Milestone Group Plc : Settlement Agreed For October 2016 Placing

 
TIDMMSG 
 
   MILESTONE GROUP PLC 
 
   ("Milestone" or the "Company") 
 
   Settlement Agreed for October 2016 Placing 
 
   Milestone (AIM:MSG), the AIM quoted provider of digital media and 
technology, announces that following a review of the situation regarding 
the placing announced on 20 October 2016 (the "Placing") and the 
likelihood of successful recovery of the outstanding proceeds, it has 
entered into a compromise agreement with the counterparty of the Placing, 
which was the Company's placee. 
 
   In the Placing, a dispute arose between the Company and a counterparty 
in relation to the issue and allotment of 83,333,332 shares (the 
"Shares") at a price of 1.5 pence per share, as the GBP1.25 million 
gross proceeds from the Placing were not received by the Company from 
its placee. The counterparty has agreed to pay the company a settlement 
payment of GBP125,000 and to waive all rights to the Shares. 
 
   It is now the Company's intention to dispose of the Shares in due course 
to new placees as and when demand arises. 
 
   This announcement contains inside information for the purposes of 
Article 7 of EU Regulation 596/2014. The person who arranged for release 
of this announcement on behalf of the Company was Tony Sanders (Chief 
Executive Officer). 
 
   For further information: 
 
 
 
 
 
  Milestone Group PLC                              Tel: 020 7929 7826 
  Tony Sanders 
 
Cairn Financial Advisers LLP, Nominated Adviser  Tel: 020 7213 0880 
 Liam Murray / Jo Turner 
 
Hybridan LLP, Broker 
 Claire Louise Noyce                               Tel: 020 3764 2341 
 Walbrook PR Limited, PR                           Tel: 020 7933 8780 
 Gary Middleton / Paul Cornelius 
 
 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Milestone Group PLC via Globenewswire 
 
 
  http://www.milestonegroup.co.uk/

(END) Dow Jones Newswires

January 22, 2018 02:00 ET (07:00 GMT)

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