FAN Volution Group Plc

RNS Number:6279O
First Artist Corporation PLC
27 December 2006


For immediate release                                           22 December 2006


                          First Artist Corporation Plc


                                 Result of EGM


                           Completion of Acquisition


                  Approval of Share Consolidation and Placing



Result of EGM


First Artist Corporation Plc ("First Artist" or the "Company"), the media and
entertainment group, is pleased to announce that at the Extraordinary General
Meeting held this morning, all the resolutions proposed in the Notice of
Extraordinary General Meeting, details of which were set out in the circular to
shareholders dated 30 November 2006 ('Circular'), were duly passed.


Completion of Acquisition


The Company also announces the completion today of the acquisition of Dewynters
Plc ('Dewynters'), the UK entertainment industry's leading marketing services
agency, subject to the admission of the Enlarged Share Capital to trading on
AIM.


Commenting on the acquisition, Jon Smith, the Chief Executive, said:


"We are delighted to have concluded this acquisition today. Dewynters is a
transformational addition to First Artist, and will integrate very well into our
expanding broad based media and entertainment group. As with all other
acquisitions to date, we are confident that it will produce significant benefits
and synergies from the cross-referral of business across the enlarged Group, and
we continue to seek further opportunities for expansion".


Share Consolidation


The issued and unissued ordinary shares of 0.25 pence each in the capital of the
Company are to be consolidated on the basis of one ordinary share of 2.5 pence
for every 10 ordinary shares of 0.25 pence each ("New Ordinary Shares").
Dealings in the issued shares of 0.25 pence will cease at close of business
today. At the request of the Company, dealings will be suspended on 27 December
2006, when the existing shares will be cancelled and the New Ordinary Shares
will be entered into the register. CREST accounts will be credited with the New
Ordinary Shares on 28 December 2006.


Admission of the New Ordinary Shares to trading on AIM is expected on 28
December 2006.


Placing


Under the terms of the Placing Agreement, Dawnay Day has placed 1,600,000 New
Ordinary Shares of 2.5p each at 62.5 per share raising #1.00 million, before
expenses, subject to Admission.



For further information:

First Artist Corporation plc
Jon Smith, Chief Executive                       Tel. 020 8900 1818
Richard Hughes, Group Managing Director

Hudson Sandler
Nick Lyon /James White Tel. 020 7796 4133




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

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