Share issue at Expomedia

Expomedia Group has launched a share issue to fund its purchase of the remaining one-third stake in Warsaw International Exhibition Centre (WIEC) that it does not already own (Event, February).

Just over three million new ordinary shares are being placed at 78p each.

The issue will bring in about £2.32m after deductions.

The move is subject to approval from shareholders of the Polish exhibition centre, who have been notified about an extraordinary general meeting.

WIEC opened in September last year and has since hosted 23 events, including the Warsaw International Motor Show. More than 26 exhibitions and corporate events have been booked for this year.

At the time of going to press Expomedia was yet to announce its results for the year ended 31 December 2001. The figures were due on 22 March.

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