Mood Media Corporation ("Mood Media" or the "Company")
Block listing application
London - 24 November - In accordance with the AIM Rules, Mood Media is required to apply for admission to trading any new shares that are issued. By using a block listing application, companies can apply to list shares which have not yet been (and may never be) issued pursuant to the exercise of stock options, warrants and convertible instruments.
As such, an application has been made to the London Stock Exchange for a block listing of 23,825,843 common shares of no par value, arising from the potential future exercise of options and warrants, to be admitted to trading on AIM.
2,575,000 common shares of Mood Media may be allotted pursuant to the exercise of options under the rules of the 2005 Mood Media Stock Option Plan (the "2005 Option Plan") and, as of the date hereof, 12,618,300 common shares may be allotted pursuant to the exercise of options under the rules of the 2011 Mood Media Stock Option Plan (the "2011 Option Plan"). The common shares will not be allotted immediately but as and when the 2005 Option Plan and 2011 Option Plan rules allow and subject to any applicable performance measures being met.
In addition, a total of up to 8,632,543 common shares of Mood Media are issuable upon the exercise of the currently outstanding warrants of Mood Media.
Common shares allotted will rank pari passu in all respects with the existing common shares of Mood Media in issue.
For further information: Lorne Abony
Chairman and Chief Executive Officer
Mood Media Corporation Tel: +1 905 761 4300 Dominic Morley Panmure Gordon Tel: +44 207 459 3600
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements. The words "believe", "expect", "anticipate", "estimate", "intend", "may", "will", "would" and similar expressions and the negative of such expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to important assumptions, including the following specific assumptions: The grant of options under the 2011 Option Plan is at the discretion of the board of directors of Mood Media and is subject to the terms of the 2011 Option Plan. No further grant of options under the 2005 Option Plan will be made although the existing options granted under the 2005 Option Plan will continue to vest in accordance with the rules of the 2005 Option Plan. The number of options that may be granted under the 2011 Option Plan is limited to 10% of the number of issued and outstanding common shares of Mood Media from time to time. Any increase in the number of issued and outstanding common shares of Mood Media or any exercise of the existing options previously granted under the 2011 Option Plan will result in an increase in the number of options that may be granted under the 2011 Option Plan. There can be no assurance that the total number of options that may be granted pursuant to the 2011 Option Plan will not be granted, or if granted, the terms and conditions thereof.. There can also be no assurance that the 2011 Option Plan, the agreements relating to the grant of options thereunder or the agreements relating to the outstanding warrants of Mood Media will not be amended, such that (among other things) the number of shares issuable thereunder will be increased or issued on terms or conditions different from those currently provided, although certain amendments must be approved by the holders of securities of Mood Media in certain circumstances as may be required by applicable law or the terms of the governing instruments.
Readers are cautioned not to place undue reliance on the forward-looking statements in this press release. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein. Forward-looking statements are given only as at the date hereof and Mood Media disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.
