EIC Eicom

RNS Number:8392M
Eicom PLC
27 May 2005


                      EICOM PLC ("Eicom" or "The Company")

                Regulatory News Service Announcement 27 MAY 2005

Placing of new Ordinary Shares to raise a minimum of #250,000

Further to today's announcement of the Company's acquisition of Job Channel
Limited, the directors of Eicom are pleased  to announce that the Company has
conditionally raised #250,000 through a placing of 45,454,545 new Ordinary
Shares in  the Company at 0.55p per share.

The funds raised will be used to purchase programme licences for the Performance
Channel, in order to increase its  audience share, and to provide working
capital for the Company's new acquisition of the Job Channel, in order to 
enhance its IT facilities and provide new marketing.

The fundraising, which is not underwritten, is conditional upon the passing of
shareholder resolutions to allow the  directors to allot new Ordinary Shares
free from pre-emption rights at an Extraordinary General Meeting to be held on 
21 June 2005 and upon the admission to trading on AIM of the new Ordinary
Shares.

Commenting on the fundraising, Eicom's chairman, John Sanderson, said:

"We are making good progress in our strategy of building a portfolio of digital
TV channels. This new money will be  used to develop the Performance Channel,
which we acquired in January, and the Job Channel, the acquisition of which we 
announced today, by investing in new programming and enhanced marketing."

For further information contact:

Steve Timmins            Eicom plc                       07005 964091

Nick Hooper              Credo Capital plc               020 7291 3724

Fiona Reid               Grant Thornton UK LLP           020 7383 5100

Notes to Editors:

Eicom plc's business is the management and exploitation of digital TV channels.
The company owns one international TV  channel (ETV World, a science and
technology channel), which is being rolled out across the world; it acquired a
UK  based digital TV channel (Performance Channel) in January 2005 which is
currently transmitting free-to-air on Sky and  Telewest and Eicom is also
transmitting, from June 2005, a horror movie channel (ETV Horror) on BT Rich
Media - the  telecom operator's broadband environment.


                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
IOEBIGDUCDDGGUL

Eicom (LSE:EIC)
Historical Stock Chart
From Jul 2024 to Jul 2024

Eicom (LSE:EIC)
Historical Stock Chart
From Jul 2023 to Jul 2024