Start of Trading
March 10 2004 - 3:41AM
UK Regulatory
RNS Number:3487W
Screen FX PLC
10 March 2004
10 March 2004
Not for release, publication or distribution in, or into,
the United States, Canada, Australia or Japan
Screen FX begins trading on AIM; shares priced at 10p per share
Screen FX plc, which will offer digital screen advertising in shopping centres
across the UK, announces that its shares have today started trading on the
Alternative Investment Market at a price of 10 pence per share. At the listing
price, Screen FX had a market capitalisation of #12 million, of which #5 million
(before expenses) was raised through a placing fully underwritten by Seymour
Pierce.
The net proceeds of the placing will be used by Screen FX principally to exploit
and develop its digital screen advertising business. The initial strategy is to
install its digital flat screen advertising displays into nine leading shopping
centres nationwide and through these displays to deliver major brand
advertising. The company's longer term strategy is to build on its initial roll
out and secure longer term relationships with UK shopping centres, retailers and
advertisers.
Screen FX is led by a proven and experienced management team, David Clark and
Richard Schultz, who between them have over 19 years experience of developing
and building successful advertising and design organisations. David and Richard
are to be joined by Richard Nichols (aged 38), Chief Executive of Incepta Group,
who has been appointed as Non-Executive Chairman of Screen FX.
Conditional dealings started at 8.00 am today. The shares are listed on the AIM
market under the symbol SFX. Seymour Pierce is acting as corporate broker and
NOMAD to the company. The prospectus was published on 5 March 2004 and is
available from Seymour Pierce, Bucklersbury House, 3 Queen Victoria Street,
London EC4N 8EL and will be available on Screen FX's website at
www.ScreenFX.com.
David Clark, Chief Executive Officer of Screen FX, said:
"We are delighted to announce this significant move for Screen FX. Admission to
AIM will provide us with the capital and the profile to allow us to exploit the
significant opportunities which are opening up with in the evolutionof out of
home based advertising towards digital screen display based advertising. Our
screens will offer major blue chip advertisers the opportunity to get their
message across to potential customers at a time and place they are most likely
to buy. We believe our proposition is the logical next step for out of home
advertising".
For further information please contact:
Screen FX plc Tel: 0161 428 5544
David Clark
Citigate Dewe Rogerson Tel: 020 7638 9671
Patrick Toyne Sewell/Alexandra Scrimgeour/ Fiona Bradshaw
Notes to Editors:
Screen FX was established in order to exploit the potential of digital screen
based advertising, perceived to be the next logical step in the out of home
advertising market. It acquired Big FX, which was established by Dave Clark and
Richard Schultz in 1999 to provide large format out of home poster and banner
advertising media space, and Screen FX was established in June 2001 in order to
exploit the potential for cost-effective digitally based display advertising in
high football shopping areas.
Out of home advertising spend in the UK has risen significantly in recent years
and is forecast to grow in 2004. Shopping centres are subsequently a
significant target for major brand advertisers, and to this effect, Screen FX
has already entered into an agreement to install and maintain flat digital
advertising displays in nine major shopping centres across the UK. Screen FX
also produces the hardware and software which will manage a network of these
displays and build relationships with property owners and potential advertisers.
For more information on Screen FX please visit www.ScreenFX.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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