Name Change
Result of AGM
The Board of NewMedia SPARK (AIM: NMS), the venture capital investor, announces that all the resolutions were duly passed at the Company's Annual General Meeting held today, including the special resolution (Resolution 9) to change the Company's name from NewMedia SPARK plc to SPARK Ventures plc.
Change of name
Following the acquisition of Quester in May 2007, SPARK began managing an enlarged portfolio with assets across a more diverse range of sectors. The Board believes that SPARK Ventures plc better reflects the nature of the Company's core business as a venture capital investor, whilst retaining its recognised and respected brand, "SPARK", which has been built up over the Company's history.
Trading in the shares of the Company under the new name of SPARK Ventures plc will begin on 25 October 2007. The new ticker will be SPK.L.
Tom Teichman, Chairman of SPARK, commented:
"We now have about £250 million of investments under our management making us one of the largest European quoted investors in our field. Our new name reflects the evolving nature of SPARK's business and our on-going expansion into, and appetite for, investments beyond the new media sectors. We continue to see excellent investment opportunities and believe that SPARK's new name mirrors its ambition to build on its existing position as a leading venture capital investor in technology, digital media and life sciences."
Enquiries:
SPARK Ventures plc
Andrew Carruthers 020 7851 7777
Buchanan Communications
Isabel Podda 020 7466 5000
Collins Stewart Europe Limited
Seema Paterson 020 7523 8321