(PRWEB) January 20, 2005
The TV media and entertainment company, TV Commerce plc, is raising up to Â£2.5 million from investors ahead of its planned arrival on the Alternative Investment Market on February 21.
Broadcasting on Sky Channel 694, the company has created a new approach to low-cost programme making and revenue generation based on viewer interaction.
Chief Executive Vince Stanzione said, ÂIn a fraction of the time that traditional broadcasters take to develop new ideas, we have launched two national broadcast streams on Sky 694 - The Advert Channel and Your Destiny TV. We are already generating revenues from viewer interaction through TV shopping, premium rate services such as chat and competition entries, and internet transactions.Â
Crucially, TV Commerce is structured to allow rapid response to audience behaviour Â it handles its own production, and can move quickly and at low cost into new programming ideas as fresh opportunities arise.
The board is chaired by Andrew Mintern, formerly a divisional director in the retail sector with Burton Group plc and Sears plc, and also includes Chelsey Baker who brings extensive experience in marketing and consumer branding, and Jason Nicholls, Director of Broadcast Production at NTL.
A prospectus sent to potential investors offers up to 41,666,667 new shares at 6p per share, giving the company a market capitalisation of up to Â£5.1 million. The minimum amount which must be subscribed is Â£850,000, which is fully underwritten by Mr Stanzione.
The offer for subscription closes at 5pm on February 10, 2005, and trading in the shares is due to start on AIM on February 21.
The broker to the issue is S P Angel & Co Ltd, with Matrix Corporate Finance as nominated adviser and Merchant Capital plc as financial adviser.
For further information contact:
020 7436 7486
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