Novra CEO takes stake in Avanti Screenmedia Group

Adrian J Cotterill, Editor-in-Chief

At a time when nearly all of the established European advertising funded networks are re-examining the software, CMS, network and signage solutions that they use (research projects, due diligence and tenders galore) one way of keeping hold of your signage software business is to help them out with a bit of cash.

So it is that Dr Moe Bakarat, the President and Chief Executive Officer of Novra Technologies has taken a 13.37 per cent stake in Avanti Screemmedia.

Novra Technologies are the Canadian signage vendor who supply Avanti Screenmedia with most of the hardware that they use on the networks that they own.

Avanti Screenmedia are Novra’s only customer in Europe to date I believe.

Avanti Screenmedia Issue of Equity
RNS Number:6194H
Avanti Screenmedia Group PLC
13 November 2007

Avanti Screenmedia Group PLC
(“Avanti” or the “Company”)

Issue of Equity

The Company announced on 4 September 2007 that it had raised #100,000 through the issue of a 10% Convertible Loan (the “Convertible Loan”), details of which were sent to shareholders in a circular on 25 September 2007 and approved at the EGM on 18 October 2007.

The Company has now received notice to convert from Dr Moe Bakarat, the holder of the Convertible Loan. Accordingly the Company has issued and allotted 5.0 million new ordinary shares, representing approximately 13.37 per cent. of the Company’s issued share capital, to satisfy conversion of the entire Convertible Loan.

These new ordinary shares will rank pari passu with the existing ordinary shares of the Company, and trading is expected to commence on Friday 16 November 2007.

Following the issue of the new ordinary shares, the Company will have
37,386,073 ordinary shares in issue.

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