FAN Volution Group Plc

    RNS Number : 6929K
  First Artist Corporation PLC
  23 December 2008
   

    Date:                    23 December 2008
    On behalf of:        First Artist Corporation plc ("First Artist" or "the Group")
For immediate release        

    First Artist Corporation plc
    Earn-out Payment and Issue of Equity

    First Artist Corporation plc (AIM: FAN),  the media, entertainment and events group, is pleased to announce that Dewynters Limited
("Dewynters"), the UK's leading full-service theatre and entertainment marketing company, has achieved the second year performance targets
detailed under the terms of the acquisition agreement dated 29th November 2006.

    As a result, the following consideration is immediately payable to the Sellers of the company, to be satisfied as follows:

    *     A cash entitlement of �1,500,000 in the form of Loan Notes.

    *     The allotment by the Company to the Dewynters Sellers of 64,400 new ordinary shares of 2.5 pence each in the capital of the
Company ("New Ordinary Shares") at a consideration share price of 20.22 pence per New Ordinary Share.  

    Application has therefore been made for the admission of the New Ordinary Shares to trading on the AIM market of the London Stock
Exchange. Upon issue, the New Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares. It is expected that
admission will become effective and that dealings in the New Ordinary Shares will commence on 30th December 2008 ("Admission"). Following
Admission, the Company will have a total issued share capital of 13,941,771 Ordinary Shares.

    - ends -

    For further information:


 First Artist Corporation plc                         tel: 020 7993 0000
 Jon Smith, Chief Executive                           www.firstartist.com
 Julianne Coutts, Company Secretary

 Daniel Stewart & Company plc, Nominated Adviser and  tel: 020 7776 6550
 Broker                                               www.danielstewart.co.uk 
 Stewart Dick

          


    Notes to Editors:
    First Artist Corporation plc was admitted to AIM in 2002.

    First Artist's group companies are among the leading brands in their fields under the following categories: 

    Media - entertainment advertising, marketing, design, promotions, digital media, 
merchandising, signage and front of house displays for the West End, Broadway 
and Las Vegas via the Dewynters, SpotCo and Newman Displays brands. Strategic sponsorship 
consulting via Sponsorship Consulting Limited, and sponsorship rights marketing through First 
Rights Limited.


    Events - offers a broad range of events such as conferences, company activity 
days, parties, venue finding, delegate management and client events for private and public sector 
clients through The Finishing Touch.


    Entertainment/Sport - representation of media personalities and football players/clubs 
across the UK, Europe and the US by First Artist Management, First Artist Sport, Promosport and 
First Artist Scandinavia, together with wealth management through the Independent Financial 
Advisory firm, Optimal Wealth Management.



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