GON Galleon Hldgs

RNS Number:1106V
Galleon Holdings PLC
05 December 2005

Embargoed: 0700hrs, 5 December 2005



                              Galleon Holdings plc

                          ("Galleon" or the "Company")



                             Placing & Acquisition



Galleon, the intellectual property owner and developer in the children's
entertainment sector, is delighted to announce the acquisition of "The Mysti
Show" ("Mysti") for #1.5 million and a placing of new shares to raise
#1,250,000.



The Acquisition



Mysti is a hugely successful brand in the Kids entertainment sector, targeting
the extremely lucrative "Tween Girl" market. The first TV series was the top
rated show for girls aged 10-15 in the UK and the brand has already sold in
excess of 100,000 books. Series 2 went on air this month.



Galleon, which now owns 100% of the IP, excluding traditional book publishing
rights, stands to benefit substantially from commissions for further series' in
the future, international TV sales of the property and extensive licensing and
merchandising opportunities. To date Mysti has already generated revenues in
excess of  #5,000,000 and is profitable from television production alone.



The acquisition has been financed by the payment of #300,000 cash, a loan note
of #500,000 and the issue of 7,000,000 ordinary shares at 10p per share



The Placing



Funds of #1,250,000 have been raised via a placing of 12,500,000 new ordinary
shares at 10p per share. Application has been made for the placing shares to be
admitted to AIM and Admission is expected to take place on 9 December. The
proceeds of the placing will be used to fund the cash portion of the acquisition
of Mysti as well as for further investment in Galleon's premium toy division,
Croco, which is enjoying a significant growth in orders and requires additional
funding in order to meet the new levels of demand.  The funds will also be
applied to strengthen Galleon's sales force ahead of the aggressive sales
emphasis being placed on both the Mysti and Skunk Fu properties.



Chief Executive, Stephen Green, commented,



"We have, in the Mysti property, a proven and profitable piece of IP with the
potential for long term sustainable revenue growth in the near future through
merchandising and International TV sales. It also balances the Galleon portfolio
of IP which previously had no girl-targeted properties.



Galleon's Entertainment division now has two operational, revenue generating
brands, in Mysti and Skunk Fu. Combined with the exciting response that our
development portfolio had at Mipcom and the continued growth of our product IP
division, Croco, we believe we are in our strongest position to date. I am
confident that the funds raised will facilitate a new phase in the company's
growth and a strong and profitable future."



For further information please contact,



Stephen Green, Chief Executive

Hayden Eastwood, Finance Director

Galleon Holdings plc

Tel. 0208 987 0011



Ben Simons / Adam Reynolds

Hansard communications

Tel. 020 7245 1100




















                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

ACQUURWRVKRURAA

Galleon (LSE:GON)
Historical Stock Chart
Von Jun 2024 bis Jul 2024

Galleon (LSE:GON)
Historical Stock Chart
Von Jul 2023 bis Jul 2024